Mix used property..refi

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Aloha

338 Posts

Posted - 08/17/2008 : 10:50:31 PM

Here is scenario:

property in San Francisco
LTV 56%
cash-out refi
Full Doc, Fico 739
DTI 41%
Assets verifiable
it's mix used property - first floor is rented out..business doesn't belong my clients
second floor is owner occupy

I got an approval with Flag Star but since business doesn't belong clients, the files will be denied...

Is there anybody can do this file???? Please any help appreciated..Thanks in advance

markapex

346 Posts

Posted - 08/18/2008 : 06:11:25 AM

We may be able to get this deal done, but due to licensing requirements we need the property to be owned by a corp or LLC.

Apex Mortgage is a commercial mortgage portfolio lender owned by First Trust Bank, FDIC. We are a small balance lender doing loans from $25,000 to $750,000 in 42 states. Our terms run to a max of 25 years, fixed or ARM with no balloons or lock-outs. We offer brokers the ability to earn 2 points in YSP.

While we are not a hard money lender, most of our deals are in the 575 to 660 credit score range.

We underwrite, process, close and service all of our loans. We never send files out to another company for any reason.

Mark Langman
Apex Mortgage
800-262-2739, ext. 221
215-283-8885 fax
mlangman@apexmtg.com
www.apexmtg.com

Bruce Holler

93 Posts

Posted - 08/18/2008 : 06:36:28 AM

We offer financing on Mixed use, OO, choice of 3,5,7,10,15 and 30 yrs, fully fixed, amort to 30 yrs.

stuartg

227 Posts

Posted - 08/18/2008 : 3:38:30 PM

Please send a summary, use of funds, and financials on project and borrower 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

ccbank

1652 Posts

Posted - 08/18/2008 : 4:08:42 PM

We will consider it.

andersonloans

128 Posts

Posted - 08/19/2008 : 11:30:40 AM

Hello.... Give me a call to discuss, I can help with this one. Thx

Aloha

338 Posts

Posted - 08/19/2008 : 11:46:13 AM

thank you everybody...what rate i'm looking at?

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