22) The local commercial bank finances complexes of 10 to 25 unit office suites. In...
50.1K
Verified Solution
Link Copied!
Question
Accounting
22) The local commercial bank finances complexes of 10 to 25 unit office suites. In an interview with the chief credit officer, the appraiser learns that the typical loanto-value is 75%. The typical loan rate is 7.5% with 25 years of monthly payments. The bank has a strict: 1.2 debt coverage ratio to grant the loan. The contacted price is $950,000. The property will produce $145,000 in net operating income. What size payment is supported by the property using the bank's criteria? A) $12,083 B) $12,100 C) $14,500 D) $10,069
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.