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Louisville, KY – Rental
An out-of-state investor based in New York owned a rental property in Louisville, Kentucky, and was ready to refinance it. The property had a lease with a Section 8 tenant, ensuring reliable cash flow on the 2-bedroom, 1-bathroom home.
By the Numbers:
$87,500
Loan Amount
$125,000
Appraised Value
70%
Loan to Value Leverage
The Opportunity
An out-of-state investor based in New York owned a rental property in Louisville, Kentucky, and was ready to refinance it. The property had a lease with a Section 8 tenant, ensuring reliable cash flow on the 2-bedroom, 1-bathroom home.
He was looking for options to refinance this workforce housing property with a DSCR loan and reached out to Lima One.
The Solution
Lima One’s national footprint empowered financing for this old Kentucky home at 70% LTV with a cash-out refinance. By basing the loan on the full appraised value instead of the 20-year old purchase price actual cost, Lima One helped the borrower maximize funds on the deal.
This deal set the investor up to continue building his portfolio of homes in Kentucky and beyond.
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