Loan amount
Loan type
As-Is Property Value
70% {LTV}
Property type
Private commercial resort
Borrower Details
Credit score
Deal experience
5 deals
This loan scenario was submitted by a Broker
Property Details
Loan Details
Additional Loan Information
I am a Loan Broker representing a Business Client of mine who's seeking a Cash-Out Refinance Loan for $3.1M for a Commerial Private Resort Property, NOO Investment Property.
Client is seeking a Cash-Out Refinance to pay off existing purchase loans and complete the remainder of the project based on the appraised at completion ARV of 4,370,000 with a stabilization ARV is $7,000,000.
Amount Requested is $3,100,00 for Refinance.
Itemized Use of Funds/Proceeds:$1,450,000 to pay off the loans(Past due as of June 1st), plus $1,650,000 for the Rehab.
Applicant's Money Invested to date is $500,000+ that has been spent on project, and $40,000 is held in Escrow for payments.
The above are just the basics. I have the Complete Executive Summary with more specifics.
July 17, 2019 - 12:53pm

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