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$1,650,000 Cash Out Refinance
Posted by Commercial Loans in Commercial Real Estate, Recent Closings
Where: Lexington, NC
Type: This was a complete cash-out deal for a seasoned investor. He owned this property free and clear and wanted to pull money from it to buy another investor property. The big problem on this deal was the amount of cash out. No local bank or credit union will allow that much cash out for the purposes of buying more real estate. The Life Companies (another great source of financing that we have access to) did not even want to do it because of the type of property and it’s location. The best anyone else could do was a million cash out. But we took the deal inhouse with our wholesale lending, one of the most aggressive lenders in the marketplace and got him the entire $1.6 million he needed. It was at 50% LTV, but it was all cash out. If you want the most aggressive lending solutions on the planet, call David Garrett today at 866-355-1244310 456-1056
