This first-time borrower and real estate investor is refinancing a single-family home in Hempstead, New York with Asset Based Lending’s DSCR Rental loan. This property was purchased for $590,000 with a loan amount of $413,000. This 3,920 square foot home has three bedrooms and one bathroom with an attached garage space. Renters take up 56% of Hempstead, New York and 15% of those units are three-bedroom households, making this investment a great choice for the borrower’s portfolio. The investor chose a 10-year interest only option for their 30-year loan. With a DSCR of 1.02, this is a passive income producing investment and positive cash-flow property for this borrower.
