Loan amount
$2,500,000
Loan type
As-Is Property Value
$3,750,000
LTV
67%
{LTV}
Property type
Commercial
Borrower Details
Credit score
770
Deal experience
3 deals
This loan scenario was submitted by a Broker
Property Details
State
California
Loan Details
Additional Loan Information
Refinancing of full tenant property bringing in $30,000 per month. Real estate taxes at $25,000. Property is in Costa Mesa, CA and is used by high end auto repair specialists who pay monthly. Primary tenant is the Corp owned by the head of the family. It was purchased for $2.4 million and have been paying interest only of 5% since 2016. Looking for a loan duration of 20 years at a fixed rate; if possible. I am the accountant for the trust that owns the property.
Status
Closed
Created
October 9, 2019 - 7:44pm
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