Valuation: $12 MM
LTV: 41.66%
Loan: $5.1 MM
Terms: 1st 5/1 ARM @3.25%
Challenge: The borrowers needed cash-out quickly to participate in a private placement in public equity. The borrowers only had 3 weeks to come up with the funds to close on the investment. Insignia Mortgage was able to work with the borrower and their CPA to structure this complex refinance and quickly obtain loan approval. The property was owned in two separate irrevocable trusts which added an additional layer of complexity to the transaction. The lender agreed to move forward after reviewing the file with their legal team and also to close the loan within 14 days and approved $5 million in cash-out proceeds.
$5.1 MM All Cash-Out For Investment in Private Placement
