MultifamilySubject-to

310-314 Garfield St

Dayton, OH

Fourplex, all units occupied. Take over payments on the existing 3.9% loan.

Proposed term sheet

Purchase price$540,000

Down / option fee$45,000 (8.3%)

Monthly payment$3,150 / mo

TermLoan stays

Annual Percentage Rate3.9% existing rate

Underlying loan$471,000 @ 3.9%

What this deal means for you

Cash to the sellerThat's 8.3% of the price. A conventional lender would typically want around $135,000.

$45,000

Your monthly paymentAs proposed by the seller. Confirm what taxes and insurance are included.

$3,150/mo

The loan stays in the seller's nameYou take title and make the payments, but the mortgage remains the seller's obligation. The lender may have the right to call the loan when title transfers.

3.9% existing rate

Due-on-sale: the existing mortgage in this structure likely contains a due-on-sale clause; the lender may have the right to call the loan on transfer.

Equal Housing Opportunity. All terms are non-binding proposals until definitive agreements are signed; verify everything with a licensed attorney and use third-party escrow/servicing where required.

Posted by Rae Delgado (INVESTOR)