Asset Based Lending recently funded a DSCR rental loan for a first-time borrower in Atlanta Georgia. This borrower reached out to ABL to get cash out of their property and refinance into a 5-year step down DSCR loan. This property is recently renovated and the market rate for rent indicates that the borrower could collect up to $2,400 monthly. With a DSCR of 1.17, once this unit is leased to a tenant this property will positively cash flow and contribute to the borrower’s portfolio. In Atlanta only 16% of rental properties are single-family homes, making this property a rare find for any of the 55% of renters in this city.
