Loan amount
$840,000
Loan type
Refinance {Cash-Out}
As-Is Property Value
$1,400,000
LTV
60% {LTV}
Property type
Single Family
Borrower Details
Credit score
660
Deal experience
103 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Clearwater
State
Florida
Loan Details
Current mortgage balance
$760,000
How much cash-out are you looking for?
$80,000
Additional Loan Information
a luxury single family residence that has averaged $9000/month in yearly renter and airbnb type guest rentals. Refinance is to reduce high private lender interest rate from 13% to a 6% or lower interest rate and Cash out is to cover costs to close, along with working capital to upgrade appliances to Viking and gas along with upgraded furniture and linens. Funds are to payoff $760k private high interest lender and subordinate sba 3% fixed loan of 143k.
Status
Created
January 6, 2021 - 8:14pm

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