Mortgage lead for Commercial loan in Bullhead City, AZ, 86442

Loan Request for Commercial loan in Bullhead City, AZ, 86442

Request #3702373 by Lender

Date Posted

8/3/2024 4:45:43 PM

Property at

Bullhead City, AZ, 86442, USA Show Map

Borrower at

Property Type

Commercial

Property Value

$3,000,000

Loan Request

$1,300,000

LTV

43.33 %

Credit Rating

680-699

Loan Purpose

Refinance all

Purpose

Joseph Owns 36 units Free and clear, and he plans to use the equity in the apartment buildings to get $1,300,000 to buy a mobile home park ( In escrow). >>>>>>>>>>>>> The 36 units are on three separate parcels. ::: 1567 Serra Vista is 12 units, 1587 Sierra Vista is 10 Units, and 1629-1641 Turquoise is 14 units. >>>>>>>>>>>>>> All the units were recently renovated and in very good shape, with a total income of 30k a month. >>>>>>>>>>>>>>>>>>>> We can do one loan on the entire 36 units or separate loans on each of the buildings. >>>>>>>>>>>>>>>>>>>>>> The client is looking for a 9% or better rate, preferably 8% or better, and a 2-3 years minimum duration. >>>>>>>>>>>> Joseph has good credit. <<<<<<<<<<<<<<< >>>>>>>>>>>> There may be an option to tie the mobile home purchase as additional equity. >>>>>>>>>This loan is brokered by Custom Financial Services, and the broker expects a minimum of 1% commission.

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Loan Request for Commercial loan in Bullhead City, AZ, 86442