8 Units- Multifamily Property
Another Successfully Funded Loan
This was a cash out refinance transaction for a repeat client. She was trying to buy another building and needed to get some cash together.
The applicants credit scores had dropped, debt had increased, and reserves had deteriorated since the last loan we did together.
To offset the chance of being denied due to borrower’s ratios we were able to have the lender agree to have all of the revolving and secured debt to be paid off in escrow from the use of some of the proceeds from the cash out.
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