This was a past client who returned to us for a cash out refinance. He had contemplated selling the building but decided that if he could get a large enough loan he would simply keep the building and then use the cash out to acquire more real estate.
The program that was the best fit was the Freddie Mac Small balance program. This program definitely has its perks but is a bit of an arduous process which required a lot of guidance from us since this was the borrowers first time financing through an agency program.
ALB is a sophisticated brokerage that has financed millions in Agency loan volume and as such was able to maximize loan dollars and obtain great long term financing for the client.