Looking for lite doc lender, cash out refi on 3 unit strip mall in WA.

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by an intermediary from Gonzaga University
in Lake Stevens, WA, USA

6mos ago

Looking for lite doc lender, cash out refi on 3 unit strip mall in WA.

Hello, first posting. Admins, if this is not correct location to post please advise. Have borrower looking to complete cash out refi on 3-unit strip mall. Location is not rural or declining. Rents are not stabilized; 1 unit is empty. Cannot go full docs as income is written down. Property is free and clear looking for $650k which is ~60% LTV. DSCR is ~.95 Use of funds is business purposes. Credit is shallow with no derog. Property has been owned 5 years, always free and clear. Won't work for SBA or Conventional CRE loan, looking for "just missed" lending option not hard money. Anyone have a referral?

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reply by an intermediary 6mos ago
in Philadelphia, PA, USA

I may have a contact for this, I just reached out to him. I’ll reach out to you directly if he can help.

reply by an intermediary 6mos ago
from Gonzaga University in Lake Stevens, WA, USA

Thx Julius