Loan amount
$480,000
Loan type
Refinance {Cash-Out}
As-Is Property Value
$700,000
LTV
69% {LTV}
Property type
Church/Place of Worship
Borrower Details
Credit score
700
Deal experience
3 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
High Point
State
North Carolina
Loan Details
Current mortgage balance
$30,000
How much cash-out are you looking for?
$450,000
Additional Loan Information
My client is a non-profit group that is seeking to obtain a refi-cash out on a property it has owned since 1996 and is located in High Point, North Carolina. The current tax value is $700K+, estimated 10,000sf, minor repairs/upgrades to be made as client expects to tenant lease after funding. Existing mortgage is less than $25K and scheduled to be paid off within a year. Client is seeking cash-out at 65%.
Status
Created
January 18, 2023 - 5:17pm

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