Investor was referred to us by one of our preferred commercial real estate brokerages. This was a cash out refinance and the client was seeking the best prevailing rate in the current market conditions.
In order to achieve the loan that was desired we needed a minimum of a 1.15 DCR and a lender that utilized a low start rate as the underwriting rate.
ALB's loan Advisor pulled through identifying the best qualifying program and helped the client achieve their financing goals and objectives. Our relationships with the right capital sources and our knowledge in underwriting equated to another successfully closed transaction.