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Commercial Post Detail
Cross-colaterallized Loan 8/13/2019 1:57:27 PM  Broker Location: TX/75087 Other/Niche/KY/
PostID: 42646     Status: Open  
Loan Info:  
Amount $375,000 
Appraised Value  
LTV 50% 
DSCR  
Loan Term  
Loan Amortization  
Product Type  
Property Type  
Purpose  
Doc Type  
Borrower FICO 740 
Borrower DTI  
Keywords: Cross Colaterallized SFR & Commercial
General Notes:  Borrower has two properties that are vested in a Florida based LLC. The properties are cross-collateralized in a hard money bridge loan. There seems to be a distribution of the existing loan toward each property, as noted in the property section below as balance owed. It may be possible to separate into 2 loans if need to breakaway from the cross-collateralization in the event one property may be a fit for while the other is not. The borrower seeks cash-out or rate & term refi to retire the current total loan $340,000. Short term, 12-month terms will work since he plans to pay off the entire loan within a year. We are seeking max LTV as the borrower would like to minimize cash out of pocket for closing, if possible. Borrower credit: 740 Available contribution: $100,000 Property 1: Vacant Commercial Building 55 US-51, Clinton, KY 42031, also known as 55 N. Washington St. Clinton, KY 42031 14,000sf single-story facility on 1.366 acres - former Hickman County Jail built in
 Replies: 1 
Name: Ralph Abbott Phone: 614-484-7060 8/18/2019 12:30:47 PM
Company: Prospera Advisory Group Email: rabbott@prosperag.com  
Unfortunately, this deal does not fit our box. Send me your contact information and I will send you our loan programs.
 
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