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Killeen Texas DSCR Rental Loan

Address: Killeen, Texas
Borrower Profile: First Time Borrower — Real Estate Investor
Purchase Price: $388,500
Appraised Value: $400,000
Loan Amount: $310,800
Loan Structure: Fully Amortizing 30-Year
Loan Purpose: Purchase Only
DSCR: 1.14
Situation:

Asset Based Lending recently funded a DSCR rental loan for a first-time borrower in Killeen Texas. This borrower contacted ABL to purchase a 4-family building to add to their real estate investment portfolio. The property is completely occupied and collecting monthly rent at market rate. With a DSCR of 1.32 this property is generating positive cashflow for this investor. Killeen TX is a prime area for rental property investors as more than half of the residents rent their homes.