Salinas Cash Out Refinance $2 million – Recently Funded
RECENTLY FUNDED TRANSACTION: Salinas, CA
Loan Amount: $2,210,000
Loan to Value: 85%
Loan Purpose: Cash Out Refinance
Property Type: 10 Acre-Mixed Use Agricultural
Opportunity: Borrower’s business is strong with increasing revenue. Unique property consisting of residential space (mobile homes and house), horse arena, commercial space (warehouses), and agricultural space (greenhouses). Borrower currently resides in a hard money loan. Borrower took $70,000 cash out in the closed loan. With a mid-FICO we were able to overcome the difficulty to define how much space each tenant occupied since it’s a non-traditional property.
For more information call:
Dylan Bright – (714) 908-5277
Fidelity Bancorp Funding is an Orange, California-based firm providing mortgage options to meet the long-term needs of clients of all ages and scenarios, including Realtors, homebuyers and investors. Founded in 2000, the firm is dedicated to superior standards and best practices, and recently surpassed $9 billion in funding provided nationwide. Fidelity Bancorp Funding specializes in assisting homebuyers or those in complex situations or who need alternative options such as bridge financing to help ensure that they get the deal they want.