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Savannah Georgia Cash Out Refinance

Address: Savannah Georgia
Borrower Profile: First Time Borrower — New Real Estate Investor
Purchase Price: $85,000
Appraised Value: $175,000
Loan Amount: $87,000
Loan Structure: Fully Amortizing 30-Year
Loan Purpose: Cash Out Refinance
DSCR: 1.66
Savannah GA cash out refinance
Georgia rental loan refinance
Situation:

This first-time borrower with Asset Based Lending chose to buy a single family home in Savannah Georgia to hold in their rental portfolio. The borrower paid $85,000 for a property that was recently appraised for $175,000 with an expected monthly rent of $1,350. This rental loan refinance provided the borrower with an immediate cash out of $78,750. With a DSCR of 1.66 and a tenant already in place, this property is cash-flow positive and will begin generating passive income for this rental property investor right away. Savannah GA is a great market for rental properties, boasting a population where 55% rents their home instead of owns. The city’s coastal location also makes it an easy trip into Florida or the Carolinas, providing flexibility for the tenants that call Savannah home.

Rental loan refinance Savannah Georgia
Savannah Georgia cash out refinance
DSCR rental loans Savannah Georgia
Georgia DSCR rental loan refinance