Owner Occupied Condo Refi -$600,000 – San Francisco
We received a call from the owner of a luxury condo in San Francisco. She requested $600,000 and needed it quickly. She was using the proceeds to grow her company. Being an owner occupied property we explained to her we needed 2 years tax returns. We also let her know specific DTI requirements would need to be met in order for her to qualify for her hard money loan.
We had the property appraised in a matter of days. The value came in at 2,000,000. We were able to wrap up the entire transaction in about 9 days.Our rate was the most competitive and he really liked how quickly we responded to all his questions both via phone and email.We closed the loan on time allowing him to take advantage of the purchase he had in Escrow.