Another Successful Funded Loan
35 Units-Multifamily Property
Advisor For Posted Transaction
Contact: Leonard Manriquez
5 Yr Fixed / 5 Yr ARM/3 Yr IO
Cash Out Refinance-70% LTV
35 Units‐ Multifamily
ASSIGNMENT: A real Estate Investor was seeking maximum loan dollars by ways of a cash out refinance with an end goal of moving the funds into a larger multifamily building.
CHALLENGE: The clients needed a stated commercial loan program that offered to them a great rate and up to 75% LTV. In addition the clients needed to speak with a loan officer who was able to analyze the financial performance of their apartment building along with the pre-underwriting of the borrowers financials so that they could be confident with their new acquisition plans.
SOLUTION: Leonard Manriquez of ALB Commercial Capital was engaged and after reviewing all information he and his team first advised the clients of the need to increase rents, and expressed concerns in prior years tax reporting and suggested that in the current year the client not take such a aggressive approach on the overall expenses.
ALB ADVANTAGE: ALB Commercial Capital was able to obtain 75% Loan To Value on a cash out refinance at a rate of 3.650% fixed for 5 years due in 30. The loan amount allowed the clients to achieve their investment goals.