How much can you refinance?
Lenders size a new loan by the property's income and by its value, and the lower number usually sets the limit. Enter your numbers to see roughly how a new loan compares with what you owe.
Estimated new loan
$5,529,000
Limited by income at a 1.25x debt service coverage ratio.
Estimated cash out before closing costs$329,000
Estimated payment on the new loan: $37,343 a month (25-year amortization at 6.50%).
You may have room to take cash out or to negotiate better terms.
This is a rough estimate for planning, not a loan offer or commitment. Lenders also weigh debt yield, the property's condition, location and tenants, the borrower's experience and credit, and market conditions at the time.
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