Both are looking at the same property. Only one of them is looking at the rent. Drag the rent, the rate, or the amortization and watch the two answers separate. That difference is cash you bring to closing.
Drag to change the monthly rent and see both loan amounts recalculate.
Drag to change the interest rate and see both loan amounts recalculate.
Drag to change the amortization period and see both loan amounts recalculate.
The flat line is every calculator’s answer. The rising line is a lender’s. Below the crossing point, coverage decides your loan and the appraisal is beside the point.
Appraised value × loan-to-value cap.
Net operating income divided by the minimum coverage ratio, then the loan that produces that payment.
That’s why a deal can appraise perfectly, show a handsome cash-on-cash return, and still leave you short on the day you sign.
Free, no account. The Deal Desk applies both limits to whatever you put into it and tells you which one is binding.
Free · no account · change any number and the whole analysis re-runs