Results 1 to 6 of 6
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01-07-2021, 12:55 AM #1
- Join Date
- Jun 2016
- Location
- Brooklyn
- Posts
- 54
Anyone handle commercial mortgages
My merchant who does about 1 million a month doesn't want to take another advance. He however owns his building (worth about 1.5m) and has about 400-500k on his mortgage. Instead of another cash advance he;s looking to refi the property and pull some cash out. Any guys here cant point me in the right direction?
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01-07-2021, 09:26 AM #2
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,995
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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01-07-2021, 11:31 AM #3
- Join Date
- Oct 2014
- Location
- Naples, FL
- Posts
- 476
What state? When was the last time he had an appraisal that came at 1.5M?
Based on this info, he can get approved for up to 800k. Rates are under 12% yearly, closing costs are approx 6%, monthly payment. Closes in about 10 days from the time appraisal comes back. This isn't cash advance, so it doesn't pay 10pts... more like 1pt.... with lots of work in the background collecting documents.
Let me know if you want to discuss more.
Steven Ruiz
Presto Prestamo, LLC
786-712-4900
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01-10-2021, 01:54 PM #4
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,995
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
Office: 727-233-1111
Skype: fc-financial
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01-25-2021, 09:19 PM #5Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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01-28-2021, 10:40 AM #6
Hit my inbox I have a program where we can collateralize the property without re-fing. We also can collateralize land also.
Leverage Capital Associates
Robb Payne
Managing Partner
Direct (561)440-3517
robb@levcapconsulting.net
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