Loan amount
$350,000
Loan type
As-Is Property Value
$700,000
LTV
50%
{LTV}
Property type
3 unit commercial, 2 retail stores, 1 storgage/workshop unit
Borrower Details
Credit score
625
Deal experience
15 deals
This loan scenario was submitted by a Broker
Property Details
State
Illinois
Loan Details
Additional Loan Information
Nice commercial property, two retail businesses leased, 1 storage/workshop leased. Value approx. $700,000 looking to cash out $350,000, no mortgage on it. Income $8,500.00 monthly, annual expenses, $40,000.00 (property taxes, water, insurance) tenants pay gas and electric. I own a residential property in the same area, also free and clear. Credit scores around 625 due to the fact this past year I've carried high balances on them.
Status
Closed
Created
August 26, 2019 - 1:41pm
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