A property has net operating income of $220,000. A lender offers an 8 percent, 20-year, fully amortizing mortgage loan (requiring monthly payments) in an amount which will result in a debt coverage ratio of 1.3 and a loan-to- value ratio of 70 percent. 

What is the value of the property?

Answer rating: 100% (QA)

To calculate the value of the property we need to determine the lo... View the full answer