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Ten years ago, an office building received a 4 percent interest-only loan with a debt cover ratio of 1.5?Since that time, the income on the property has risen by ten percent? It now needs to refinance its mortgage with a 6 percent rate and a 40-year amortization? Keeping the 1.5 DCR, how does the size of the loan the office
Ten years ago, an office building received a 4 percent interest-only loan with a debt cover ratio of 1.5?Since that time, the income on the property has risen by ten percent?
It now needs to refinance its mortgage with a 6 percent rate and a 40-year amortization?
Keeping the 1.5 DCR, how does the size of the loan the office building receives change?
What is one implication of this?
It now needs to refinance its mortgage with a 6 percent rate and a 40-year amortization?
Keeping the 1.5 DCR, how does the size of the loan the office building receives change?
What is one implication of this?
Expert Answer
The size of the loan the office building receives will likely increase due to t
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