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hussman94
55 Posts |
 Posted - 06/25/2008 : 12:35:43 PM
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Restaurant with 4 apartments above all of which are fully rented. He is getting offered 9.75% one point right now. 677 middle fico loan amount of 700,000 CASH-OUT amount of 125,000. He runs the restaurant as of 8 months ago but building does cash flow. I have looked at Silver Hill and Interbay but am looking for other suggestions.
Thanks in advance,
Tim |
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Matt W.
1800 Posts |
Posted - 06/25/2008 : 2:17:46 PM
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8.25% as of this month on our 5 year, 30 year am /term at par. Add .5% for 1% in ysp.
If a 680 score, we'd be a full 1% less on the rate. This is to 75% ltv and cashout ok. Subject to a 1.2 dscr.
Will need pictures of the property with a submission package to submit.
Thanks, |
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stuartg_
57 Posts |
Posted - 06/26/2008 : 4:56:01 PM
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Please send a summary, use of funds, and financials on project and buyer and I should be able to give you a prompt answer.
Very Best,
Stuart G Lewis
Managing Director
Brinkabar, Inc.
9595 Wilshire Blvd., Suite 900
Beverly Hills, CA 90212
310-300-8463 Tel
310-496-0588 Fax
slewis@brinkabar.com
www.brinkabar.com
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