Asset Based Lending recently funded a DSCR rental loan for a new borrower in Chester Pennsylvania. This real estate investor contacted ABL for a cash out refinance loan on a single-family rental property with a tenant already in place. This borrower purchased this property in late 2018 for a price that was significantly below the market value. With a DSCR of 1.4, this property is already generating positive cash-flow for the borrower. Chester PA has a very strong renter population as 63% of residents are renting their homes. However, only 5% of the rental properties available in Chester are single family homes making this a great addition to this borrower’s portfolio.
