Multifamily Deal in Texas

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Multifamily Loan in Dallas, Texas - Commercial Direct

Closed Loan in Dallas, Texas

Purpose: Cash-Out Refinance
Loan Amount: $500,000
Location: Dallas, TX

Challenge:

  • This borrower had very low levels of liquidity and was unable to document actual property cash-flow through tax returns.

Solutions:

  • Despite lack of liquidity, the borrower had never made a late payment on the existing mortgage, property taxes, or insurance.
  • Commercial Direct funded the deal and provided cash-out to the borrower.
  • Transaction was funded through Commercial Direct’s Lite Doc Program, which requires no tax returns or 4506T.

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