A guarantor came to us needing a cash-out refinance on an owner-occupied office building in order to fund the purchase of an additional owner-occupied commercial property. Due to the conventional risk of lending on owner-occupied properties and the past financial difficulties of the borrower’s businesses, traditional lenders disqualified him from obtaining financing.
APARTMENT BANK LENDING SOLUTION
At Apartment Bank, we took a common-sense underwriting approach to the loan analysis for this application. The property in question is located in one of the strongest retail and office markets in the country. The strength of the market and financial stability of the building far outweighed the borrower’s previous financial issues. With a strong global cash flow from outside real estate investments, we were able to approve the refinance loan for this property.
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