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06-15-2024, 08:29 AM #1Member
Reputation points: 10
- Join Date
- Mar 2023
- Posts
- 16
Land refinancing
What is the goal you are trying to achieve with the refi? Pay off existing not due 9/10/24 of 4.75M
Current mortgage balance: 4.75M
Current available equity: 1.45M
Current property value: 6.2M
Can you provide a credit score report of the owners of the property? 730 Transunion, 772 Equifax.
No other properties to refi. Not enough business income to supply more cash for the pay off.
Anyone interested? Lenders only - no other brokers please. DM.
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06-15-2024, 11:05 AM #2Senior Member
Reputation points: 93439
- Join Date
- Sep 2021
- Location
- Irvine, CA
- Posts
- 2,671
Loan to value is too high....Land is 30% - 50% Loan to Value. Renew the loan with current lender when it's due in September.
Last edited by Olderguy; 06-15-2024 at 11:08 AM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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07-07-2024, 03:04 PM #3Member
Reputation points: 10
- Join Date
- May 2021
- Location
- Florida
- Posts
- 13
still need help here?
Send me a PM
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07-07-2024, 04:10 PM #4Senior Member
Reputation points: 93439
- Join Date
- Sep 2021
- Location
- Irvine, CA
- Posts
- 2,671
What is the exit strategy? Development, cultivation or what?
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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