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08-15-2018, 10:12 AM #1
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- Jan 2017
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Missouri - Hard Money - Emergency Housing
State: Missouri
Loan Type: Straight-Refi / No Cash Out
Loan Amount: 375,000
Property Value: Appraised at 600k when it was a vacant SFR. Now it's being used commercially.
Property Type: 10 Bedroom SFR being used as Emergency Housing contracted with the City
Balance: 354,000
Loan Amount Needed: 375,000
Credit: 680+
LTV: 62%
Will take a 3 year + fixed. Various lenders declined for property type.
It's a SFR converted to commercial use but is also zoned multi-family. <-- this blend has been problematic for appraisers.
Suggestions?
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08-20-2018, 11:11 AM #2
Reputation points: 10
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- Apr 2016
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- 33
Good morning. What are the estimated deposits for the borrowing entity. Assuming the cash flow is there, this could fit well within my wheelhouse. 212-220-0175. Thanks,
Rob
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08-20-2018, 11:12 PM #3
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- Jun 2017
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- 29
contact me i believe i can get this deal done!
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08-23-2018, 12:36 AM #4
Reputation points: 10
- Join Date
- Jul 2018
- Posts
- 18
We could get him some lines of credit $250k is our max. We can get anyone funded just a matter of what is on there Credit Report.
We specialize in credit correction as well shoot me an email.
James Williams
Jw@havicpeters.com
Havicpeters.com
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