Deal Status

Active

Property Address

Palm Dessert, California

92260

Requested Loan Amount

1650000

Loan to Value

66

Loan Term

24

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Refinance

Commercial Property Type

Office

Office Property Types

Office Building

Number of Units

8

Current Occupancy

Tenant Occupied Partial

Current Occupancy Percentage

85

Loan Type

Refinance

Current Market Value

2500000

Existing Mortgages

  • 1st
  • 2nd
  • 3rd

Mortgage 1 Balance

1125000

Mortgage 2 Balance

20000

Mortgage 3 Balance

250000

Equity Cash Out

Yes

Equity Cash Out Purpose

Improve Subject Property

Equity Cash Out Details

The client will be complete renovation om the property. Also, he will be paying off all lien including the 3rf one for $250k. Th 3rd lien is a Pace loan.

Appraisal

No

Will additional properties be collateralized?

No

Borrower Entity

Corporation

Borrower Credit Rating

Good

First Name

Rafahael

Last Name

Islam

Company

PRIVATE MONEY SPECIALISTS

Role

Mortgage Broker

Location

91303
California
USA