Need a Funder or Vendor? START HERE

Results 1 to 3 of 3
  1. #1

    Cash out refi

    Cash-Out Refi requested:

    Commercial Property
    Value 250k approx
    Equity 170k approx
    monthly mortgage payment: $1,050 (including taxes)
    Auto Repair business. This is his primary business location
    Rural, New Hampshire
    Credit 680

    Can anyone do this?

  2. #2
    Senior Member Reputation points: 16709
    Join Date
    Jul 2014
    Location
    Jackson Hole Wy
    Posts
    717

    Quote Originally Posted by area1funding View Post
    Cash-Out Refi requested:

    Commercial Property
    Value 250k approx
    Equity 170k approx
    monthly mortgage payment: $1,050 (including taxes)
    Auto Repair business. This is his primary business location
    Rural, New Hampshire
    Credit 680

    Can anyone do this?
    So current debt on building is 80k? Does he have recent environmental report? Reach out for assistance we can help. Will message you

  3. #3
    Senior Member Reputation points: 11375
    Join Date
    Jun 2016
    Location
    Tampa, FL
    Posts
    180

    Quote Originally Posted by area1funding View Post
    Cash-Out Refi requested:

    Commercial Property
    Value 250k approx
    Equity 170k approx
    monthly mortgage payment: $1,050 (including taxes)
    Auto Repair business. This is his primary business location
    Rural, New Hampshire
    Credit 680

    Can anyone do this?
    You'll land at 70% LTV (possibly 75%) with interest rates more than likely in the mid to high 8s possibly 9s due to credit, location, and property type; can be as short at 3 or 8 years to as long as 25 years (assuming the client wants a permanent structure). Feel free to message me to discuss more if you're interested.
    Last edited by rdgllc; 11-01-2018 at 10:56 PM.

Similar Threads

  1. Cash Out Refi- 130k
    By ReilFunder in forum All Other Lending
    Replies: 4
    Last Post: 10-30-2018, 03:52 PM
  2. Replies: 1
    Last Post: 09-07-2018, 03:35 PM
  3. Replies: 0
    Last Post: 11-22-2017, 08:33 AM
  4. Replies: 0
    Last Post: 09-13-2015, 11:24 PM
  5. Replies: 0
    Last Post: 06-20-2015, 12:30 AM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

SubcontractorHub, Lendica partner
BoA launches business loan marketplace
Quickbooks adds new LOC product


DIRECTORY