201-942-9089 info@abl1.net

Mount Gilead Ohio DSCR Rental Loan

Address: Mount Gilead, Ohio
Borrower Profile: First Time Borrower — Real Estate Investor
Purchase Price: $30,000
Appraised Value: $160,000
Loan Amount: $104,000
Loan Structure: Fully Amortizing 30-Year
Loan Purpose: Cash Out Refinance
DSCR: 1.36

Asset Based Lending recently funded a DSCR rental loan for a first time borrower and real estate investor in Mount Gilead Ohio. This borrower contacted ABL for a Cash Out Refinance on their single family rental home. This property has a tenant already in place and the borrower is collecting monthly rent in line with the average for this area. With a DSCR of 1.36 and a tenant in place, this property is positively cash flowing and generating monthly income for the borrower. Mount Gilead is in central Ohio and is ideally located for residents looking to be within an hour drive of cities like Columbus and Cleveland. Residents of Mount Gilead predominantly own their homes with only 45% renting. Single family homes make up 34% of the rental market, making this property a great addition to this borrower’s real estate portfolio.