Retail Loan in Florida

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Hialeah, Florida Closed Loan Commercial Direct

Closed Loan in Hialeah, FL

Purpose: Refinance
Loan Amount: $750,000
Location: Hialeah, FL

Challenge:

  • Experienced investor rehabbed and stabilized their property in the last 18 months.
  • Despite high credit scores, they were turned down at several local banks due to recent stabilization and bank DSCR/underwriting requirements.

Solution:

  • Commercial Direct was able to refinance the borrower out of a high rate, short term hard money loan.
  • Offered financing with a 5/1 ARM, 30-year amortization with a 3-year prepayment penalty.

 

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