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QUESTION
If lenders insist on a debt coverage ratio of at least 1.2, net operating income is $250,000 and the annual debt service constant is .
If lenders insist on a debt coverage ratio of at least 1.2, net operating income is $250,000 and the annual debt service constant is .105, and if all other lender criteria are satisfied, the maximum mortgage loan the property will support is:
A.)less than $1.8 million.
B.)more than $1.8 million but less than $2.0 million.
C.)more than $2.0 million.
D.)not determinable with the information supplied.
