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XR1
8 Posts |
 Posted - 06/11/2008 : 6:32:54 PM
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I have a 34 unit prop in Ohio, anyone know of a good Commercial lender? Any help would be appreciated
Lenders:
What criteria do you need?
They have:
Excellent scores
LTV 50%
wants $100k cash out
currently owes 595k
under corporation LLC
Thank you |
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Rockland567
137 Posts |
Posted - 06/12/2008 : 09:51:37 AM
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Please call me to discuss. The criteria I require is contingent on the deal being a full doc conventional loan or a hard money loan.
Andy Richards
Rockland Commercial, Inc.
1732 Aviation Blvd #309
Redondo Beach, CA 90278
O: 310-709-5752 F: 310-622-4186
Andy@RocklandCommercial.com
www.rocklandcommercial.com
~Financing Anything Attached to Real Estate
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Matt W.
1811 Posts |
Posted - 06/12/2008 : 11:27:17 AM
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Minimum 1.2 DSCR for our products. We do have a special for 50% ltv or less properties of 25bps off the rates. With over a 680 midscore, our 5 year / 30 year term is at 6.99% today.
Call or email to discuss further.
Thanks, |
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swmsn
4205 Posts |
Posted - 06/12/2008 : 7:24:19 PM
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What is the DSCR? now and with the new loan amount?( I can help you figure taht if need be ) Its like the DTI for a borrower BUT for the property. Every Lender needs to know this.
What is the cash out for?
How long have they owned this?
Condition of building?
Email me and I'll give you a list of docs needed for review.
Rates should be 6%-7%'s 30yr Am.
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