Consider a 7% loan amortizing at a 30-year rate with monthly payments. What is the maximum amount that can be loaned on a property whose net operating income NOI) is $1,000,000 per year, if the underwriting criteria specify a debt service coverage ratio DCR) no less than 120%?
A) $9,652,066.
B) $10,438,026.
C) $12,525,631.
D) $15,030,757.
Correct Answer:
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