Loan amount
$8,950,000
Loan type
Refinance
{Cash-Out}
As-Is Property Value
$20,000,000
LTV
45%
{LTV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
685
Deal experience
5 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
San Francisco
State
California
Loan Details
Current mortgage balance
$8,000,000
How much cash-out are you looking for?
$950,000
Additional Loan Information
I have a borrower who is in need of a 3rd. My Borrower owns a 48 Unit Property in San Francisco. He Owns quite a bit of Real Estate in SF
The Current 1st and 2nd are Both with First Republic Bank
• First loan with First Republic Bank for $4,489,571 at 4.6%
• Second LOC with First Republic Bank for $3,495.00 at 5%
• The property is worth $20M
We are looking for a 3rd Position loan of $900K - $1M
Use of Funds
$550K – New Elevator
$300K - Tax Lien
The Current 1st and 2nd are Both with First Republic Bank
• First loan with First Republic Bank for $4,489,571 at 4.6%
• Second LOC with First Republic Bank for $3,495.00 at 5%
• The property is worth $20M
We are looking for a 3rd Position loan of $900K - $1M
Use of Funds
$550K – New Elevator
$300K - Tax Lien
Status
Closed
Created
June 21, 2021 - 2:00pm
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