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Originally published on April 2, 2024
Experienced client seeking a cash out refinance, on a free & clear property located in Gary, IN. Subject is in excellent condition, appraised for $125K as – is CDA is confirmed as is value. Subject is not yet leased, as per appraised market rent $1,375/Month. Sponsor has average credit score and good liquidity to close the deal. Loan structured at 65% of LTV presenting 1.91 DSCR.