Loan amount
$402,000
Loan type
Refinance {Cash-Out}
As-Is Property Value
$670,000
LTV
60% {LTV}
Property type
Single Family
Borrower Details
Credit score
300
Deal experience
7 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Little Rock
State
Arkansas
Loan Details
Current mortgage balance
$0
How much cash-out are you looking for?
$402,000
Additional Loan Information
Hi,

I have a client(Japanese national) who would like to apply for a refinancing mortgage on all 7 properties in AR & TN
All 7 properties have no mortgage on them. All 7 total value is around $630,000 to $670,000. He purchased all 7 in 2020.

All 7 properties are under is US LLC.

He is looking for a 30 years fixed, 5/1 ARM with interest below 6%. please advice.
He has a vast property portfolio in the US with over 15 investment properties in TN & AR.

3 properties in Little Rock, Arkansas,

Little Rock AR 72204-$76,000
North Little Rock AR 72117-$84,000
Little Rock AR 72111-$70,000

4 properties in Memphis, Tennessee,

Memphis TN 38111-$79,000
Memphis TN 38116-$110,000
Memphis TN 38116-$66,000
Memphis TN 38116-$127,000


Please advise if this is something you could do?

regards
Status
Created
January 27, 2021 - 8:36pm

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