Loan amount
$1,600,000
Loan type
Refinance {No Cash-Out}
As-Is Property Value
$2,000,000
LTV
80% {LTV}
Property type
Retail/Strip Mall
Borrower Details
Credit score
725
Deal experience
100 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Cypress
State
Texas
Loan Details
Current mortgage balance
$1,600,000
Additional Loan Information
A retail shopping center in Cypress, TX. It is 80% leased. It is in a good neighborhood and area. All three guarantors have solid credit and financials. They were quoted 8.25 for a 25 Year AMORT so will be needing to be better or the same to compete. They bought it outright with cash and made improvements with cash and wanting to refinance. They have no mortgage balance. Will either flip or rent depending on debt they can model on it. Put just under 100K into the project. Loan amount is 1600000.
Status
Created
February 28, 2023 - 12:04pm

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