[fundnclose]

loan amount: $1.2M
LTV: 75
refi C/O
credit: 765
property use: residential rental
income proof: Bank statements

ISSUE: The prelim report shows:
Property use: Retail stores (personal services, photography, travel)
Land use: Retail stores (personal services, photography, travel)
Zoning: Commercial

The first floor was a hair salon converted from residential by the previous owner and re-zoned to commercial.

The new buyer removed all the hair salon chairs and converted first floor back to residential.
Yes, the area is mostly residential.

[Olderguy]

Where's it located...what's the population...private hard money might consider it....reach out...comps in the area will be the issue.....might be 50% LTV 6 lender points.

[Business2122]

loan amount: $1.2M
LTV: 75
refi C/O
credit: 765
property use: residential rental
income proof: Bank statements

ISSUE: The prelim report shows:
Property use: Retail stores (personal services, photography, travel)
Land use: Retail stores (personal services, photography, travel)
Zoning: Commercial

The first floor was a hair salon converted from residential by the previous owner and re-zoned to commercial.

The new buyer removed all the hair salon chairs and converted first floor back to residential.
Yes, the area is mostly residential.

I recently found a group that’s lending against my portfolio of properties cash flow

If you’re interested in borrowing against the property’s cash flow email me

I’d walk you through the steps ( I offer this because you mentioned bank statements)

[fundnclose]

I got an offer of 65 LTV and just about 6 points. Good call. But they need minimum 70 LTV due to the 6 points

[Olderguy]

If you want to send it to me I'd be glad to look at it....

[FunderFunding]

How much is the property worth?

[Olderguy]

How much is the property worth?

Loan amount $1.2MM at 75% LTV = $1.6MM valuation

(I have a bank statement program this might fit).