Investment Highlights
HomeAbroad Funded the Purchase at About 69% LTV
The property was appraised at $430,000, while HomeAbroad funded approximately $297,000.
The loan closed at approximately 69% LTV.
HomeAbroad structured the financing as a 30-year fixed DSCR loan at a transaction-specific interest rate of 7.00%.
The loan structure also included the property’s qualifying rental income, monthly PITIA, documented reserves and closing funds.
Rent Covered About 90% of Monthly PITIA
The property was vacant at closing. The file used $3,000 in qualifying monthly rent against approximately $3,300 in monthly PITIA. PITIA includes principal, interest, taxes, insurance and applicable association costs used in the housing expense.
A 1.0 DSCR means qualifying rent equals monthly PITIA. In this transaction, the property’s qualifying rent covered about 90% of monthly PITIA.
The transaction completed underwriting and reached funding with a DSCR below 1.0.
The file closed with six months of documented reserves and a verified source of funds for closing.
Key Closing Details
0.9 DSCR
$3,000 in qualifying monthly rent was measured against approximately $3,300 in monthly PITIA.
LLC Registered Before Funding
The investor completed the LLC’s state registration during the final days before funding.
Remote Signing
The investor signed the required closing documents through remote online notarization.
The Investor Closed the Property in a Newly Registered LLC
The purchase was structured to close into an LLC ownership structure . The investor completed the entity’s state registration during the final days before funding.
HomeAbroad Underwrote the Property
The Florida single-family rental was evaluated using qualifying rental income and monthly PITIA.
The Investor Completed the LLC Registration
The ownership entity received its state registration during the final days before funding.
The Investor Took Title Through the LLC
Once the registration documents were available, the property could close under the intended LLC ownership structure.
The Investor Signed Remotely
The investor executed the required closing documents through remote online notarization.
HomeAbroad Funded the Loan
HomeAbroad funded approximately $297,000 for the Florida rental purchase.
The Investor Signed the Closing Documents Remotely
The investor signed the required closing documents through remote online notarization .
The investor signed the closing documents through remote online notarization.
Availability varies by state, transaction, title requirements and other closing conditions, so the method used in this case does not apply universally to every foreign-national purchase.
HomeAbroad Funded $297,000 for the Florida Rental
HomeAbroad funded approximately $297,000 for the Florida single-family rental . The loan closed at approximately 69% LTV based on the $430,000 appraised value.
Approximately $3,000 in qualifying monthly rent against $3,300 in monthly PITIA resulted in a 0.9 DSCR.
The investor completed the LLC registration before funding, closed the property into the LLC and signed the closing documents remotely.
The property closed into a newly registered LLC, with the closing documents signed through remote online notarization.
