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What is the largest mortgage the lender will give

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Question - Ann wants to buy a building with an asking price of $3,000,000 (this is also the value). The annual NOI for the building will be $165,000 in year 1. She wants to get a 30 year, fully amortizing, fixed rate mortgage at an annual rate of 4.35% with monthly compounding and monthly payments.  The lender has a minimum debt service coverage ratio requirement of 1.25. The lender also has a maximum LTV threshold of 70%. What is the largest mortgage the lender will give Ann based on both the LTV and DSCR requirements?

Reference no: EM133086051

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