Office Building $900,000 Cash-Out Refinance
3375 Tamiami Trail East, Naples, Florida 34112
- No upfront fees, tax returns or income verification
- Loan amount: $900,000 (including $150,000 cash-out)
- Term: 10 years
- 6.5% Fixed
- Amortization 30 years
- Property value: $1.9 Million
- 47.36% LTV
- 4 Office units – 100% Leased
- Purchased 1997
- Annual property income: $118,736
- Annual property taxes: $7590
- Annual property insurance: $5000
- No HOA
- Annual utilities: $6800
- Experienced borrower: have closed 3 loans for her
- FICO 685
- Borrower’s income: $250,000
- Net Worth: $3.2 Million
- Loan funded in 6 weeks