I have a client that would like to refinance for a good fixed rate on a Commerical Industrial Warehouse.
Here is what the scenario looks like:
2 Borrowers
750 FICO
$2,120,000 Loan Amount
$45,000/monthly rent
$16,000/month payment @ 6.4% 7 yr fixed-no prepay
50% LTV
$40,000/month combined monthly income
Stated Income - Real Estate Investor
Taxes - $56,000
Insurance- $8,000
Aquired in 1999
Looking for a new fixed rate program?
Can anyone help me?
Appreciate it!
