STATE: MISSOURI

LOAN TYPE: REFINANCE

PROPERTY TYPE: Commercial.

(ZONED MULTI-FAM BUT IS NOT MULTI-FAM -- 10 ROOMS / 1 KITCHEN. Zoned Residential but is actually commercial due to use. Borrower has contract with city for emergency housing. Making $600 / per room. 10 rooms, $6000/month.)

CREDIT: 680+

OCCUPANCY: NON-OWNER

INDUSTRY: Emergency Housing

MORTGAGE BALANCE: 354,000

ESTIMATED VALUE: $600,000 (Based on a BPO from last year, except it was dont as residential at that time because it was vacant. Now it's in use)

LOAN AMOUNT: $390,000 (Straight Refi)

LTV: 65%

Current loan is a 1 year IO at 11.5% due in October -- Looking for a take out loan, can be 3 year+
(Already tried going SBA but he doesn't DCR on tax return)