Loan amount
$300,000
Loan type
Refinance
{Cash-Out}
As-Is Property Value
$380,000
LTV
79%
{LTV}
Property type
Multi-Family 1-4 Units
Borrower Details
Credit score
550
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
New London
State
Connecticut
Loan Details
Current mortgage balance
$150,000
How much cash-out are you looking for?
$150,000
Additional Loan Information
Loan Application Summary (NON-QM /
Hard Money)
I. Refinance Objective & Request
The applicant is seeking a Cash-Out Refinance (NON-QM or Hard Money) on the primary
investment property (77-79 Green Street, CT).
Use of Funds:
1.
2.
Debt Consolidation/Payoff.
Apartment updates/capital improvements to the CT property to generate additional
rental income.
Target Cash-Out Amount:
The applicant is targeting a cash-out range of $95,000 (Minimum) to $155,000 (Maximum),
but is open to all available options.
II. Subject Property (Connecticut)
The property is a legal Two-Family Home located in a national historic and
commercial/residential district. Both units are currently rented long-term (one tenant also
serves as maintenance).
Metric Details
Purchase Date/Price (2005) $263,450
Current Mortgage Balance $118,000
Current PITI Payment $2,253/month (5.2% rate)
Estimated Value Range $388,000 – $415,000
Value Rationale Strong market appreciation due to
hiring/growth at General Dynamics nearby.
III. Additional Asset & Rental Income (Florida Condo)
The applicant owns a mortgage-free vacation condominium in Florida that serves as a
secondary income stream.
Metric Details
Purchase Date 2008
Estimated Value Range $168,000 – $189,000
Gross Monthly Rental Income $1,300
Monthly Expenses (Taxes, Insurance,
HOA, Mgmt Fee)
Approx. $507/month
Net Rental Income (Est.) Approx. $793/month
IV. Applicant Income & Employment
The applicant has a long history in technology sales leadership, with verifiable income through
W-2/paystubs.
Metric Details
Current Employer HBM.AI
Current Role Director of Partnerships and Growth
Employment Start Date September 15, 2025
Documented Base Monthly Income $8,150
Estimated Monthly Bonus/Commission $1,100 (paid quarterly)
Previous Role (Aug 2023 - Sept 2025) Head of New Business - Nordics (Virta OY).
Salary: $7,100/mo + $11,500/yr bonus.
V. Credit Circumstance
The applicant acknowledges current credit challenges resulting from recent debt
consolidation (HVAC/rental repairs) and time spent working abroad (Europe) impacting trade
line history.
Metric Details
Soft Pull Score 620
Hard Pull Score Range 532 – 563
Mitigation Recent debt consolidation is expected to
lead to rapid, significant improvement in
the near term.
VI. Assets and Banking
The applicant has readily available cash and investment assets that can serve as reserves.
Account Type Institution Value
Retirement/Investments Norne (Retirement) $78,000
Investments Schwab $2,200
Investments Fidelity $800
Primary Bank (ACH
Payments)
Hard Money)
I. Refinance Objective & Request
The applicant is seeking a Cash-Out Refinance (NON-QM or Hard Money) on the primary
investment property (77-79 Green Street, CT).
Use of Funds:
1.
2.
Debt Consolidation/Payoff.
Apartment updates/capital improvements to the CT property to generate additional
rental income.
Target Cash-Out Amount:
The applicant is targeting a cash-out range of $95,000 (Minimum) to $155,000 (Maximum),
but is open to all available options.
II. Subject Property (Connecticut)
The property is a legal Two-Family Home located in a national historic and
commercial/residential district. Both units are currently rented long-term (one tenant also
serves as maintenance).
Metric Details
Purchase Date/Price (2005) $263,450
Current Mortgage Balance $118,000
Current PITI Payment $2,253/month (5.2% rate)
Estimated Value Range $388,000 – $415,000
Value Rationale Strong market appreciation due to
hiring/growth at General Dynamics nearby.
III. Additional Asset & Rental Income (Florida Condo)
The applicant owns a mortgage-free vacation condominium in Florida that serves as a
secondary income stream.
Metric Details
Purchase Date 2008
Estimated Value Range $168,000 – $189,000
Gross Monthly Rental Income $1,300
Monthly Expenses (Taxes, Insurance,
HOA, Mgmt Fee)
Approx. $507/month
Net Rental Income (Est.) Approx. $793/month
IV. Applicant Income & Employment
The applicant has a long history in technology sales leadership, with verifiable income through
W-2/paystubs.
Metric Details
Current Employer HBM.AI
Current Role Director of Partnerships and Growth
Employment Start Date September 15, 2025
Documented Base Monthly Income $8,150
Estimated Monthly Bonus/Commission $1,100 (paid quarterly)
Previous Role (Aug 2023 - Sept 2025) Head of New Business - Nordics (Virta OY).
Salary: $7,100/mo + $11,500/yr bonus.
V. Credit Circumstance
The applicant acknowledges current credit challenges resulting from recent debt
consolidation (HVAC/rental repairs) and time spent working abroad (Europe) impacting trade
line history.
Metric Details
Soft Pull Score 620
Hard Pull Score Range 532 – 563
Mitigation Recent debt consolidation is expected to
lead to rapid, significant improvement in
the near term.
VI. Assets and Banking
The applicant has readily available cash and investment assets that can serve as reserves.
Account Type Institution Value
Retirement/Investments Norne (Retirement) $78,000
Investments Schwab $2,200
Investments Fidelity $800
Primary Bank (ACH
Payments)
Status
Closed
Created
November 24, 2025 - 7:22am
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