Recently Funded Short Term Rental Loan In Kissimmee FL

Loan Scenario:

This rate and term refinance involves a condo located in Kissimmee, Florida, with an existing lien of $281,343. The property was appraised at $370,000, and the loan amount secured for this refinance is $284,507, resulting in a Loan-to-Value (LTV) ratio of 77%.

The loan is structured with a 30-year fixed-rate term, offering long-term stability and predictable payments for the borrower. The Debt Service Coverage Ratio (DSCR) is 1.04, indicating that the rental income comfortably covers the debt service requirements, with a slight margin for potential fluctuations in cash flow.

This refinance allows the investor to take advantage of favorable terms while securing the property for use as a short-term rental, capitalizing on the strong rental demand in Kissimmee. The appraised value of the property is higher than the existing lien, ensuring adequate equity and positioning the borrower for financial stability over the long term.