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Mortgage Grapevine

Loan scenario: IA, $900,000, 750, 64% LTV, Refinance, full, NOO

State: IA

Amount: 900,000

Property type: MF

Documentation: full

FICO: 750

LTV: 64%

Occupancy: NOO

Loan purpose: Refinance


I am seeking a refinance for a multi-family property we own in Cedar Rapids, Iowa.

Value: $1.425 Million (based on recent appraisal)
Loan Amount Sought: $900,000
LTV: 64%
NOI: 60,000
DSCR: 1.21

Seeking to lower the monthly P & I payment and use the funds for improvements and reserves.

Current liquid reserves of $90k.

Property is currently in a limited partnership, guarantor has a 750+ FICO.

Property qualifies on its own; depending on your rates and programs, DSCR could be better than what is stated above.

Please respond only if you know you can do this type of loan, and in your contact info, please include your website that has further information on your loan programs.

I am a real estate broker and former mortgage broker. This should be a good, straightforward deal for the experience, knowledgeable commercial mortgage professional.

Thank you in advance for your interest and response.
by rp_56 October 10, 2012 1:54 PM


Hi Rp.... Hope all is well. I am with South End Capital a Correspondent Lender based in Boston. We have a source which may be interested in this deal.

What is current rate on the loan? Below is my contact information and website of our company. Contact me for more details. Have a good day!!!


Antoine Anderson
South End Capital
P: 510-381-1930
antoine@southendcapital.com
www.southendcapital.com
by southend33 October 10, 2012 2:57 PM


WE ARE DIRECT LENDER THAT MAYBE ABLE TO
HELP YOU WITH PROJECT. WE CAN OFFER:
1-LOAN AMOUNT:$750,000 TO $7 MILLION
2-LOAN PURPOSE:PURCHASE,REFINANCE,&CASH
OUT
3-MINIMUM FICO:680
4-LTV:UP TO 80%
5-30 YEAR FIXED AND BALLOON TERMS OF 5,
7,10 YEARS WITH AMORTIZING TERM UP TO 30
YEARS.
8-TAX & INSURANCE ESCROWS:NOT REQUIRED FOR
QUALIFYING BORROWERS
9-BORROWER NET WORTH:MUST EXCEED LOAN AMOUNT
PLEASE CONTACT ME AT:brazmab@earthlink.net

REAGRDS,
MICHAEL
by TIMSUB October 10, 2012 4:17 PM


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by richardloan October 10, 2012 4:39 PM


I would like to take a closer look at this file on the surface it seems to be a viable funding request. Send over executive summary, 3 yrs P & L's, YTD P & L, PFS, Resume on principal, rent roll and use of funds breakdown. Give me a call to discuss the request.


John Broussard
Newbridge Investments
713-777-9996 Ext 103
commercial.privateorhardmoney@gmail.com
by juniverse October 11, 2012 1:45 AM


I am a broker, however I have a wholesale relationship with a Multi Family Lender that does loans nationwide. Their rates are as follows..
5/30 3.76%
7/30 3.97%
10/30 4.375

With an LTV of 65%, the DSR would need to be at 1.35x. If this is feasible, please send me an email at waoconnell@yahoo.com and I will tell you what information I need you to send. We don't charge upfront fees and share Rev.
by waoconnell October 11, 2012 10:33 AM


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by creditsolut October 21, 2012 6:22 PM


Dear Sir/Madam,

Contact us for a legitimate loan here, 2% interest rate 100% Safe and
Secure Just be real and your request will be granted within 4 working
days. If you are interested contact us now for easy and fast loan
approval..

Regards..
Mr. Sutton Taylor

Contacts...
5100 Sunbeam Rd
Jacksonville, FL 32257
Tel:+1 925-247-8149
Email: expresslendingoptions@careceo.com
Email: expresslendingoptions@gmail.com

by paulbrowninvestment January 7, 2014 4:13 AM


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