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Office Building $900,000 Cash-Out Refinance

3375 Tamiami Trail East, Naples, Florida 34112

  1. No upfront fees, tax returns or income verification
  2. Loan  amount: $900,000 (including $150,000 cash-out)
  3. Term: 10 years
  4. 6.5% Fixed
  5. Amortization 30 years
  6. Property value: $1.9 Million
  7. 47.36% LTV
  8. 4 Office units – 100% Leased
  9. Purchased 1997
  10. Annual property income: $118,736
  11. Annual property taxes: $7590
  12. Annual property insurance: $5000
  13. No HOA
  14. Annual utilities: $6800
  15. Experienced borrower: have closed 3 loans for her
  16. FICO 685
  17. Borrower’s income: $250,000
  18. Net Worth: $3.2 Million
  19. Loan funded in 6 weeks

 

 

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