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05-16-2018, 10:01 PM #1
Reputation points: 1232
- Join Date
- Jan 2017
- Posts
- 116
Florida motel 60% ltv
> State: FL
> Property: Motel - 21 Units (non-flagged)
> Loan Type: Refi-Cash Out
> Credit Score: 760
> Income: Returns not filed for 16 or 17 - Need true No Doc, ( Roll & Operating Statement available. )
> Occupancy%: 100% occupied.
> Purchased: for 325k in 2016
> Current Mtg: Free&Clear
> Occupancy: Owner-Operator Occupied
> Loan Amount $279,000 / LTV 60% (Appraised 465k)
> Objective: 12-36months I/O hard money bridge
Suggestions? Should be simple but getting back-lash on borrower purchasing the property in 2016, not enough seasoning to lend 60-65% off of current appraisal value. Need no seasoning requirement. True No-Doc. 60-65% ltv.Last edited by CFSCCorp; 05-16-2018 at 10:03 PM.
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05-18-2018, 05:33 PM #2
Reputation points: 8407
- Join Date
- Dec 2016
- Posts
- 37
M & M Private Lending Group LLC
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