Loan amount
$150,000
Loan type
As-Is Property Value
$215,000
LTV
70%
{LTV}
Property type
Commercial / Warehouse and Offices
Borrower Details
Credit score
736
Deal experience
8 deals
This loan scenario was submitted by a Broker
Property Details
State
Iowa
Loan Details
Additional Loan Information
I currently own the building my electrical contracting business is in. I would like to finance it to pay off debt and invest in my company. There is one $47,000 loan the building secures, but it is not a mortgage. The payment on that loan is $2,660/Mo which would more that cover a mortgage on the building when I lease it back to my company. That loan would need to be paid off with the loan first. The building is located in Mason City, Iowa 50401. I am looking for a 5 year minimum, 15 year maximum loan.
Status
Closed
Created
July 30, 2020 - 11:43am
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