60% LTV; C/O Refi of a 6-Unit Multi-Family in Los Angeles
Our repeat borrowers, with strong credit scores, who have paid us perfectly, used the proceeds of our mortgage loan against their investment property to perform extensive renovations on the subject in order to maximize their income on the 6-unit investment property.
The property generates a good cash flow with a 1x DSCR (Debt Service Coverage Ratio) based on our Promissory Note rate.
The subject is a 6-Unit multi-family which has a GBA (Gross Building Area) of 5,811 square feet with the following breakdown:
â?¢ One 3+2s with 1,143 square feet
â?¢ Three 2+1s with 782 square feet
â?¢ Two 3+1s with 1,160 square feet