Asset Based Lending recently funded a DSCR rental loan for a first-time borrower in Lindenhurst New York. This investor contacted ABL for a cashout refinance loan for an unoccupied single-family property. The borrower has a tenant lined up and is expecting to collect market rate in monthly rent. With a DSCR of 1.03 this property will generate positive cash-flow and contribute to the borrower’s investment portfolio. Lindenhurst NY’s residents are predominantly homeowners with only 16% of people renting their homes. Lindenhurst is located on the south shore of Long Island within a 45-minute drive of JFK Airport in Queens, and an hour from Southampton. This is a great area for a renter looking for the quiet of a suburban area with access to both city amenities and summer retreats.
