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Deal Description:

The borrowers had six single-unit rental properties, as well as their personal home. All of these were personally held under one bank account. Most had substantial equity. None was at the end of the term.

Purpose:

To refinance some or all of the properties and purchase more. In the end, we refinanced one and purchased one, with another transaction being considered.

Employment:

The borrowers were both self-employed, each in his own business. The income of these too were in the same bank account as the rental units. Their BFS provable income was under $30,000 per year..

Credit:

Their credit was excellent.

Problem

They had too many doors and not enough income for any “A” residential lender.

Final outcome:

Using commercial mortgages, we refinanced and purchased, with 5 year mortgages for less than 2.1%.  The criteria for the commercial mortgages were based on the rental income and debt coverages of each of the buildings and not the personal income of the borrowers.

We can do this for you. 866-435-3748; info@koramgt.com  .

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Base is any pureed fruit even baby food. Add acid: a dollop of ketchup and a good squirt of rice wine vinegar.Add ground ginger and garlic, a splash of soy and a good bit of dried mustard powder. Reduce gently until thick enough to cover the back of a spoon