An investor in Illinois wanted to take cash out of their multifamily property and refinance into a more stable, long-term loan. Both goals were accomplish with a 30-year fixed rate loan.
Closed Loan in Chicago, IL
Commercial Loan Program
The borrower in this transaction was a business owner who did not wish to submit tax return documentation at any point in the lending process. The borrower submitted 12 consecutive months of business bank statements and was approved for a 5-year loan with a 30-year amortization.