First-Time Investor Purchase of a Duplex in Houston, Texas
DEAL OVERVIEW
Lennox Lending Corporation successfully closed on a first-time investor purchase of a duplex in the Houston, Texas market. The Sponsor not only had no previous management experience, they also were not homeowners themselves. Using the vast network of lenders, Lennox Lending was able to find the right solution for a 45-day escrow.
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LOAN TYPE
DSCR
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MARKET
Houston, Texas
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LOAN AMOUNT
$550,000
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LOAN TO VALUE
80%
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TERM
30-year Fix
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PREPAYMENT
5 / 4 / 3 / 2 / 1
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RATE
8.125%
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RECOURSE
Full Recourse
