Loan amount
$200,000
Loan type
As-Is Property Value
$450,000
LTV
45%
{LTV}
Property type
Commercial / Retail
Borrower Details
Credit score
690
Deal experience
2 deals
This loan scenario was submitted by a Broker
Property Details
State
New York
Loan Details
Additional Loan Information
6000 sqft. Refinance existing mortgage to lower interest rate. Looking for 4%. Have a tenant that just signed a 5 year lease with 5 year options. 5 acres want to develop additional building or residential rental on property. Property has 200 ft of state road frontage in area that is growing 70 miles of NYC. Previously I ran my business from site for 30 years. Total balance owed $200K. Monthly rental income $3,700. Property located in Kerhonkson. Prefer 8-10 year loan term.
Status
Closed
Created
August 17, 2020 - 7:43pm
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