seller is willing to finance downpayment
looking for a equity partner to cover closing costs and fees
TBD, LLC
No. of Properties 8
Quote Date 10/20/2023
Property Value $ 1,448,000
Rental Income $ 18,241
Taxes $ 15,319
Homeowners Insurance $ 4,150
HOA (if applicable) $ 0
The above information was used to calculate your quote
Summary Terms 79.38% LTV
Loan Amount $ 1,149,350
Rate 9.250 %
Origination Fee $ 11,494
Buy up/down $ 0
Underwriting and Processing Fee $ 6,373
Prepayment Penalty 5, 4, 3, 2, 1
Payment (P&I only) $ 9,455
Payment (PITIA) $ 11,078
Cash Due at Closing $ 370,784
Cash to borrower $ 0
The Interest Rate expressed in this Estimate of Costs is indicative of the interest rate offered by Lender as of the date of the
Estimate. This is for information purposes only an does not constitute a rate lock, and the interest rate is subject to change
based on prevailing interest rates.
Estimate Date: 10/20/2023
Preliminary Estimate of Costs
Rental Loan - Fixed
Estimate Date: 10/20/2023
BORROWER SUMMARY
Borrower TBD, LLC
Estimated Value Of Property $ 1,448,000
Number of Properties 8
Borrower Credit Score 700
Term and Amortization Period 30 years
Loan Amount
79.38% LTV
$ 1,149,350
PAYOFFS AND LOAN COSTS
Purchase Price of Properties $ 1,448,000
Payoff of Mortgage(s) on Properties $ 0
Origination Fee $ 11,494
Buy Down/Buy Up Not Opted $ 0
Underwriting and Processing Fee $ 6,373
Legal Fee $ 1,500
Broker Fee $ 34,481
Broker Processing Fee N/A
IMPOUNDS & 3RD PARTY TITLE FEES
Estimated 3rd Party Closing Costs (title, reconciliation, etc.) $ 12,000
Estimated 6 Month Tax Impound, Subject to Change $ 7,660
Estimated 6 Month Insurance Impound, Subject to Change $ 2,075
Interest Reserve Escrow $ 0
Estimated Cash Due From Borrower at Close 1 $ -370,784
RATE
Qualifying Interest Rate 9.250 %
Rate Buy Up/Buy Down 0.000 %
5 Year Prepayment Penalty: 5, 4, 3, 2, 1 0.000 %
Initial Fixed Interest Rate 2 9.250 %
MONTHLY PAYMENTS
Monthly Principal & Interest Payment $ 9,455
Monthly Payment of Taxes and Insurance $ 1,622
Monthly Payment of HOA Dues, paid to HOA $ 0
Total Monthly Payment (PITI) $ 11,078
RENTAL INCOME
Estimated Monthly Rental Income $ 18,241
Rent to Debt Service Ratio 1.65
ADDITIONAL INFORMATION
1. Cash to close qgures include an estimation of 3rd party Closing Costs, which will be charged by your selected title company.
2. The Interest Rate expressed in this Estimate of Costs is indicative of the interest rate offered by Lender as of the date of the Estimate. This is for information purposes only,
does not constitute a rate lock, and the Interest Rate is subject to change based on prevailing interest rates.
PAGE 2 OF 3
Preliminary Estimate of Costs
Rental Loan - Fixed
Estimate Date: 10/20/2023
Disclosures and Contingencies
ADDITIONAL CASH REQUIREMENTS
Re-uired Li-uid Reserves $ 33,234
Valuation Fee TBD
INTEREST RESERVE ACCOUNT
So long as no Event of Default has occurred and is continuing and no event with the passage of time and/or the giving of notice would constitute a default hereunder
or under any other Loan Documents have occurred. Lender shall credit, the Interest Reserve towards the then due interest, principal, tax, and insurance payment under
the Note.
PREPAYMENT PENALTY
Prepay penalty is 5% in year 1, 4% in year 2, 3% in year 3, 2% in year 4, 1% in year 5. After year 5, there is no prepay penalty.
OPEN PREPAY OPTION
Prepay penalty will be applied to any prepayments of the scheduled principal balance during the prepayment period.
RELEASE PRICE
The lien against an individual property will be released when 115% of the original loan amount allocated to that property is paid in full.
PERSONAL GUARANTY
All loans must be personally guaranteed by all members of the borrowing entity.
PRELIMINARY ESTIMATE IS SUBJECT TO CHANGE
This estimate of costs is contingent upon full borrower and property underwriting.
BUSINESS PURPOSE
The Rental30 Loan is for business purpose use only, speciqcally, for real estate investors purchasing, reqnancing, or cashing’out of non’owner occupied, rental
