We funded this cash flowing rental in Huntsville Alabama recently. The property is cash flowing on day 1, with a 17% cash on cash return. The borrower did not have to provide any tax returns, w2's or pay-stubs. Using our single rental portfolio loan, we use property cash flow to qualify in lieu of personal income. The borrower was able to put only 20% down and obtained a 30 year fixed rate at 6.5%.
| Purchase Price |
$159,500 |
Loan Amount |
$127,600 |
Loan Type |
30 Year Fixed - Single Rental Loan |
| Interest Rate |
6.50% |
Loan to Cost |
80% |
Property Type |
4 Family |
| Investment Objective |
Passive Rental |
ARV% |
80% |
