A fully leased SFR in Fort Lauderdale's Victoria Park - long-term tenant paying $3,800/month. Purchase price $475,000. Numbers penciled perfectly for a DSCR loan.
LOAN AMOUNT
$380,000
Investor ran their own business with heavy write-offs - traditional bank financing was a non-starter. Needed underwriting based on property income, not personal tax returns.
Adler Capital closed a $380,000 DSCR loan at 80% LTV in 21 days. No tax returns, no income verification. Underwritten entirely on rent-to-debt ratio of 1.18.
The Outcome
Closed without a single tax return. Monthly cash flow after debt service: $810. Investor has since added two more rentals to the same DSCR portfolio.
Deal Highlights
LOAN AMOUNT
$380,000
PURCHASE PRICE
$475,000
MONTHLY RENT
$3,800
DSCR RATIO
1.18
LTV
80%
CLOSING TIME
21 Days
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