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Memphis, Tennessee DSCR Rental Loan

Address: Memphis, Tennessee
Borrower Profile: First Time Borrower — Real Estate Investor
Purchase Price: $67,000
Appraised Value: $145,000
Loan Amount: $94,250
Loan Structure: Fully Amortizing 30-Year
Loan Purpose: Cash Out Refinance
DSCR: 1.66
Knoxville Hard Money Lender
Knoxville DSCR Loan
Situation:

Asset Based Lending recently funded a DSCR rental loan for a first-time borrower in Memphis, Tennessee. This property was purchased for $67,000 with an appraised value of $145,000 and a loan amount of $94,250. With a DSCR of 1.66 it is already generating positive cashflow and contributing to the borrower’s real estate portfolio. Memphis, Tennessee resonates with culture, music, and a strong sense of community, making this a great investment for the borrower.