DSCR Rental Purchase Loan for Duplex in Deerfield Beach, Florida

Funded by RCN Capital


Deal Details

Private Loan Type

Residential Long-Term Rental

Approx. Funding Date


Property Type
2-4 Units Residential
Property City

Deerfield Beach

Property State


Loan Term (months)


Lien Type

1st Mortgage

Payment Type


Purchase Price


Loan-to-Purchase Price


Borrower's Contribution to Purchase



30 years

Rate Type


Debt Service Coverage Ratio


Property Condition

Newly Renovated

Occupancy at Closing


Number of Units


Building Square Footage


Lot Square Footage


Borrower's Plan

Long-Term Rental

Borrower Credit Rating


Interest Rate


Origination Points


Deal Highlights

Experienced Borrower looking to purchase a property with the intention of holding it as a rental.
Property is a duplex located in Deerfield Beach, FL, & has been recently renovated before purchase.
Property is in excellent condition and rent ready.
Total loan amount is 70.00% LTC & 69.93% LTV with a 1.12 DSCR.

Deal Summary

RCN Capital, a national direct private lender, funded a $407,750 1st lien position long-term rental loan for the acquisition of a duplex in Deerfield Beach, FL. We funded 70% of the $582,500 purchase price, while the Borrower contributed 30% cash at closing. The subject property was in excellent condition and was appraised for $583,000 As-Is which is in line with the collateral desktop analysis (CDA). The total loan amount was 70.00% LTC & 69.93% LTV with a 1.12 DSCR. The Borrower had good credit with a mid score of 772 and bank statements that reflected sufficient liquidity. They plan to continue leasing the property long-term. The subject property was approximately 2,585 square feet set in a 7,400-square-foot lot. It was tenant-occupied at closing. The interest rate was fixed at 7.37% with amortized payments. We charged 2% origination points. The loan term was set at 30 years. This DSCR rental purchase loan was funded in January 2023.

Funded By

RCN Capital

Direct Lender for Residential Fix & Flip, Long-Term Rental, Bridge Loans


Eric Shaw

Lead Loan Officer

Eric Shaw, Lead Loan Officer, specializes in building long-term relationships with both brokers and investors. Eric believes that working together with his clients to ensure they receive the best service and products ensures mutual success. Prior to working in the lending field, Eric’s experience selling, trading, and managing portfolios of mortgage-backed securities give him a unique perspective and insight on the products and industry. He holds a BA from Wake Forest University, an MBA from the UCLA Anderson School of Management, and is a CFA charter holder.

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