• (800) 510-2214
  • info@albcommercialcapital.com
  • Cal BRE License #01379610
  • (800) 510-2214
  • info@albcommercialcapital.com
  • Cal BRE License #01379610

13 Units- Multifamily Property Los Angeles, Calif.

Another Successful Funded Loan

  • $1,379,200
  • 5 Year fixed @ 4.750%
  • Cash Out Refinance- 45% LTV
  • 13 Units- Multifamily Property Los Angeles, Calif.

ASSIGNMENT:

Cash Out Refinance for Retired and legally blind borrower, paying a high rate, with lenders offering her high rates or denying borrower’s loan request.

 

CHALLENGE

Borrower was legally blind and had no online, fax, and writing capabilities. Her higher rates from previous loans did not give her enough cash flow to retire comfortably and had low reserves.

 

SOLUTION:

Loan Officer personally met with borrower, made copies of financials, returned the originals to her. Underwrote file at appointment, assessed and fixed problems with the file and successfully increased her cash flow by $60,000 a year and gave cash out of $300,000 setting borrower up for financial independence for the rest of life.