| Borrower | Apartment owner |
| Property | 12 units, 10 occupied |
| Location | Rural Texas |
| Value | ~$1.5M |
| Request | ~$1.05M cash-out |
| Product | Permanent cash-out refinance |
The problem
Local community banks closed the door, and the income numbers conflicted (about $93K stated versus about $81K documented).
How we structured it
We underwrote to the documented income and placed it with a program built for small multifamily.
The terms (as quoted;)
- 6.59% fixed
- 9-year term, 30-year amortization
- 70% loan-to-value
- Personal guarantee required
What this means for you
Rural doesn't mean unfinanceable. Use documented numbers, not optimistic ones.
In a similar spot? Get soft numbers on your deal
Why this deal was hard
Each one links to a full guide on how it gets solved.
Anonymized; amounts may be rounded. Terms as issued by the lender.