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  1. #1

    Exclamation Refinance | 2 units in maine

    LOOKING TO REFINANCE

    "AS IS" APPRAISED FOR 869K, (WILL HAVE IT BACK AT 1.1MM SHORTLY.)

    CURRENTLY OWES AROUND 490K TO FRANKLINS SAVINGS BANK, AS WELL AS A COUPLE OF SMALL MCAS.

    THE CLIENT IS WILLING TO PAY EVERYTHING OFF!!



    Village & Washroom / Apartment rooms doing around 50k a month (Two business' separate EIN)

    CREDIT: 677 THE LOWEST

    Zoning: Residential I (Which allows for both residential and limited commercial ventures.)

    Location: Maine

    Units: 2

    Dimensions: 2,400 S.F. overall, with the second level improved residential 4+ room apartment consisting of 1,200 S.F. There is a garage as well that consists of 1,200 S.F.
    Last edited by Dean Yadid; 11-12-2018 at 02:53 PM.
    Founder & CEO
    Diamond Equities Group & VVS Funding

  2. #2
    Senior Member Reputation points: 11375
    Join Date
    Jun 2016
    Location
    Tampa, FL
    Posts
    180

    You’d be looking at 75-80% LTV depending on borrower experience at 5-8% on a rate/term program; 3-4 weeks closing time. The small MCAs more than likely won’t matter for this transaction. Happy to assist. Feel free to message me.

  3. #3
    Senior Member Reputation points: 34509 Jstarr's Avatar
    Join Date
    Nov 2014
    Location
    South Florida
    Posts
    838

    Is this owner occupied? if not our rates would be around 7% and 10 days or less on the closing - If i receive good comps on re only, we would only order a BPO ( 1 day turn around)
    Jerry Starr
    Insource Funding
    433 Plaza Real, Ste 275 Boca Raton, Fl 33432
    P: 800-805-3391 Fx: 561-270-6895
    Jerry@insourcefunding.net | insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

  4. #4
    Quote Originally Posted by Jstarr View Post
    Is this owner occupied? if not our rates would be around 7% and 10 days or less on the closing - If i receive good comps on re only, we would only order a BPO ( 1 day turn around)
    I'll keep you in mind when attaining the new appraisal.
    Founder & CEO
    Diamond Equities Group & VVS Funding

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