“I Have an Ideal Loan Product for this Client”

“I Have an Ideal Loan Product for this Client”

 

 

Joe, I need your help. My boss has 7 residential properties. I want to refinance them and package them in a commercial loan. Right now his interest rates are too high and he has one that is an interest only. He shows all losses on tax return but high net worth. Is it possible to refi?

Andra

 

I have refinanced many clients that have multiple properties as a package that have greatly reduced their current interest rates. So often, folks have hard money loans on properties. That is the case here as well and on 1.5 million in loans each 1% in savings means a savings of $15,000. The savings here will be between 5-6%. If the properties are making a profit now, they will really make a serious profit after the refinance.

 

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 2 commentsJoe Petrowsky • November 16 2017 02:53PM

Comments

Good morning Joe. A no brainer for the borrower. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) 12 months ago

I have serial investors and we are packing $1 million plus assets into a single commerical loan so that they can do more Fannie Mae.

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) 12 months ago

Participate