Rates Received for Conventional Mortgage

[Frank S.]

Hi there,

Can you please comment on this estimate? It is from a large bank.

Currently, I don't have a mortgage

Score 780

Property Gross Income: $26,400

Assuming 160K appraisal, 30% equity:

DCR 2.5

Cap Rate 10%,

Cash on Cash 18.25%

5% vacancy, 10% reserve

Loan Info

115K cash out

4.85%

no points

Chicago, IL

Fixed 30 years, investment, no prepay fee, conventional,

No assumption, trasnfer service.

It doesn't indicate underwriting fee. 

Any feedback is greatly appreciated. 

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CLOSING COSTS DETAILS

LOAN COMPARISON

Thanks!

Frank

[Harjeet Bhatti]

If you want to share your email I can send you my title company contact which is in range of $700.