Loan amount
$575,000
Loan type
As-Is Property Value
$680,000
LTV
85%
{LTV}
Property type
Commercial / Restaurant
Borrower Details
Credit score
670
Deal experience
None
This loan scenario was submitted by a Broker
Property Details
State
Wisconsin
Loan Details
Additional Loan Information
We want to refinance our property which has equity in it in order to make mods and payoff debt. Loan balance $378,500. The renovations are minor as they include interior painting, new carpeting within the venue, furniture purchases, TV monitors and new lighting fixtures. ($25-35K). Renovations will only take approximately 3 days. Current appraisal $680K. ARV $700K. Property located in Milwaukee, WI. We are looking for a 30 or 15 year loan dependent on interest rates. We're currently in a ridiculous loan where we're paying 14% interest. We are seeking to be anywhere from 4% to 10% on this refinance loan.
Status
Closed
Created
March 17, 2020 - 2:38pm
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