[Olderguy]

Broker and banker reached out to me...

Here's a summary to review...

Utah 2nd home

$7.5M appraised value

Current loans:

1st hard money lien $3M $30,000 a month payment
2nd hard money lien $417,000 $4,800 a month payment

8 MCA loans $393,015 $6,877 a day X 21 days = $144,417 a month

Current monthly payments: $172,217

Total mortgage and MCA debt $3,763,106
add 5% lender/broker fees: 188,150

Total loan amount $3,951,256

Term sheet @ 9.5% 5/30 5 year fixed, no prepayment penalty
New monthly payment with this loan: $33,224
Current monthly payment $172,217

Monthly saving: $138,993

Additional personal debt of $225,000 to be paid - debtors to be determined.

New loan amount $4.5M

Term sheet for $4.5M up to 60% LTV on $7.5M value
30 year loan at 9.5% fixed for 5 years/amortized 30
No prepayment penalty

New monthly payment with personal debt: $37,838

Back up term sheet for 50% LTV $3.5M based on $7M value
10.49% amortized 30 years
$31,989 a month payment
Prepayment penalty of 5,4,3,2,1 over 5 years.

2% lender fee
1% my buddy source connection fee
2% split between me and referring broker

[CapCity]

Hi Steve,
What is the ask ?

[Olderguy]

Hi Steve,
What is the ask ?

There was no "asking" price if that's what you mean. Not sure about your request.