[Olderguy]

Cash out refi runs a bit less than 1% a month interest only fixed for 10 years.
WBL and Ironwood can't compare with their costs. And they max at 65% LTV I believe.
Your client needs to face realty.
Take the max cash out which is running 75% LTV and use what they needs and bank what they don't use.

BTW - mixed use isn't commercial...it's a type of dwelling that is unique in of itself. Biggest issue in financing mixed use is finding comparable sales in the area....it's a difficult scenario to fund because of that. Still fundable though. I did one in Hawaii...had one lender do it as all other passed. Paid off 5 MCA's. $1.1M