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

16 Units Multifamily

Another Successful Funded Loan

  • $750,000
  • 5 Year fixed @ 5.455%
  • C/O Refinance-27% LTV
  • 16 Units
  • Multifamily Property
  • Long Beach, Calif.

ASSIGNMENT:

Cash Out Refinance

 

CHALLENGE:

Retired borrower with plans of being out of the country for the duration of the loan process.

 

SOLUTION:

ALB worked with the CPA to gather tax returns and financials required for loan. Loan Officer worked directly with the onsite manager who lacked online and fax capabilities. Loan officer met with manager, made copies of lease agreements, rent increases, helped with estoppel certificates, etc. Loan Officer also met with appraiser. Borrower came back and was pleased to have loan approval and closed the following week.