Deal Status

Active

Property Address

N CHARLESTON, SOUTH CAROLINA 29405, South Carolina

29405

Requested Loan Amount

250000

Loan to Value

66

Loan Term

360

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Refinance

Commercial Property Type

Office

Office Property Types

Office Building

Number of Units

2

Current Occupancy

Owner Occupied

Current Occupancy Percentage

100

Loan Type

Refinance

Square Footage

1800

Current Market Value

375000

Existing Mortgages

  • 1st
  • 2nd

Mortgage 1 Balance

112000

Mortgage 2 Balance

8400

Equity Cash Out

Yes

Equity Cash Out Purpose

Business Working Capital

Equity Cash Out Details

CLIENT HAS A FRANCHISE WITH CHECK CASHING BUSINESS AND MUST MAINTAIN A REQUIRED CASH LEVEL. CLIENT WAS VICTIM OF IDENTITY THEFT AND HAS NO CREDIT SCORES, HIS PAY HISTORY TO MORTGAGE HOLDERS HAS BEEN PERFECT, WE HAVE VOM AND PAYOFFS, WE HAVE BPO ON VALUE

Appraisal

Yes

Appraisal Date

12/07/2018

APN Parcel ID

47.00.700.270

Lot Size

.08

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Average

Additional Attachments

Comments

CLIENT ACQUIRED PROP IN 1999, HAS 1ST & 2ND MORTGAGES TOTALING $121,000, VALUATION $375,000, BECAUSE OF IDENTITY THEFT 4 YRS AGO, NO CREDIT SCORES, REFI FROM TWO 15% MORTGAGES.

First Name

EVERETT

Last Name

CAROLINA

Company

JACINEZ HOLDINGS LLC

Role

Mortgage Broker

Location

Georgetown
South Carolina
USA