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06-01-2017, 01:03 PM #1
Residential and Commercial Wrap Needed 1.6MM
The client has established business 600k rev. per yr. 1.2 Commercial Real Estate Owner Occupied with 310K first mortgage. Home residence with 200K 1st and 2nd for 120k line worth about 400k. Client would like to wrap both properties and cash-out 750K on tranaction. 660 credit score due to balances. They need 750K to pay-off old business debt from prior business. If you are interested please email quickly to support@cfobydesign.com Miguel.
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06-11-2017, 02:22 PM #2
You can't (or won't find) finance a commercial AND a residential property into one blanket loan. Based on your scenario, looks like a commercial cash out loan of $630k to refinance current commercial lien, and cash out $320k so he can simply pay off his residential loan. If value is as stated, then the LTV is rather attractive.
Let me know if we can look at this deal.Criton Capital, LLC
12508 W. Atlantic Blvd
Coral Springs, FL 33017
Tel: 786-210-5557
Fax: 786-228-0884
loans@critoncapital.com
www.critoncapital.com
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