Winston Rowe & Associates is pleased to announce another funding of a non-bankable multifamily property located on the East Coast.
This was a typical transaction for Winston Rowe & Associates. The client had a high interest hard money loan in place that needed to be taken out.
The client had personal credit issues and the property was just recently re-tenanted after significant improvements to the subject property out of the clients own pocket.
This had caused the client to incur substantial personal debt at double digit interest rates and combined with the current bridge loan in place.
Bottom line the client needed a high loan to value (LTV) cash out refinance loan, to avoid going under, at a competitive interest rate and term.
The client had shopped around to retail banks and other private capital firms across the nation and none of them were able to provide a solution that would meet the client’s business objectives.
In just a few weeks, Winston Rowe & Associates was able to provide a commitment, then closing at just 5.75%, fixed with a 30 year amortization, best of all there were no upfront or advance fees charged to the client from Winston Rowe & Associates.
The best offer the client received form our competitors were 12% to 15% with massive points and large upfront fee that would have most likely have driven him out of business.
When speed and experience are important and crucial to your commercial real estate investing success, a principal at Winston Rowe & Associates is always available to speak with prospective clients. They can be contacted at 248-246-2243
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