Primary residence - cash out refi
Broker reached out to me with his client having his primary residence free and clear.
Has strong bank statements - good deposits personal and business.
Pre approval: $1,1000,000 loan amount
Value determines by AVM (automated valuation model) - desktop appraisal.
95% Loan to Value
30 year fixed Heloan
Non QM no mortgage insurance
7.374% rate
Principal and Interest payment: $7,596.00 a month
6 months bank statements for pre approval.
12 month bank statements for submitting
$1,000 up front fee - refundable if unsuccessful.
5% consulting fee when funded
I get 2.5% which I split with referring broker
PS: Fico at closing determines the program - so it may change.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
Broker, Underwriter, general business loan expert
949.228.1050
