DSCR - Debt Service Coverage Ratio...

Property 1:

Borrower: Open - TBD
Racine, WI 53403
Property Type: 12-unit apartment building
Loan Type: Refinance
Purchase Price: $519,900
Purchase Date: 12/28/2018
Current Balance: $454,205.73
LTV Requested: MAX
ARV Requested: MAX
FICO: 705
Experience: Over 22 Flips
Estimated Current Value: $850,000 - $1,100,000
Gross Monthly Revenue: $11,400
Annual Taxes: $16,868
Annual Insurance: $8,353.00


Property 2:
Borrower: Open - TBD
Address: Milwaukee, WI 53206
Property Type: 8-unit apartment building
Loan Type: Refinance
Purchase Price: $114,000
Purchase Date: 11/13/2020
Current Balance: $285,770.90
LTV Requested: MAX
ARV Requested: MAX
FICO: 705
Experience: Over 22 Flips
Estimated Current Value: $475,000 - $600,000
Gross Monthly Revenue: $7,600
Annual Taxes: $5,721
Annual Insurance: $3,838.81

Offers:

Address: Racine, WI 53403
Property Type: 12-unit apartment building

Cash Out Refi
12 Unit
70% LTV
9.125% Full Am
2% Origination Fee
3% broker fee
5/25 - fixed for 5yrs, then 25 yr AM
Prepay 5yrs at 5%
DSCR: 1.15%
Appraisal to be ordered by Lender

Address: Milwaukee, WI 53206
Property Type: 8-unit apartment building

Cash Out Refi
8 Unit
75% LTV
10.125% Full Am 30 years
2% Origination Fee
3% broker fee
5/25 - fixed for 5yrs, then 25 yr AM
Prepay 5yrs at 5%
DSCR: 1.15%
Appraisal to be ordered by lender

DSCR - rental income to cover debt at a 1.15% basis.