Closed Loan in Spartanburg, SC
Property Type: Warehouse
Purpose: Cash-Out Refinance
Loan Amount: $828,000
LTV: 60%
Product: 5-Year ARM
Interest Rate: 8.000%
Loan Program: Owner-Occupied No Doc Streamline
Brokers continue to use alternative solutions from Silver Hill Capital to close the small-balance commercial mortgage deals that traditional banks can’t (or simply won’t) do.
One of our fastest growing programs is the No Doc Streamline Program. With no tax returns, bank statements, or operating statements required, this is the ideal alternative program for your credit-worthy clients in need of greater flexibility.
By focusing on the FICO, LTV, and 3rd party consumer credit information, our team can confidently approve your deals.
In this deal, the borrower was looking to take cash out of their warehouse property in Spartanburg, South Carolina.
They were able to get the cash-out amount they needed at a competitive rate without having to provide the amount of documentation traditional lenders typically require for a commercial mortgage.
