South End Capital Closes a $600,000 Stated Income 4 Unit Office Refinance Cash-Out in San Jose, CA
This borrower wanted a low priced permanent loan without the headache of working with a bank, but had < 700 credit and needed to close in a revocable trust. We funded unrestricted cash-out (required no tax returns, financials or 4506T) at 7.25%, fixed for 5 yrs. and amortized over 30 yrs.. The submitting broker earned $9,000.