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How are you?Im guessing you still need some sort of help.
Please give me a email at KelaFunds@gmail.com to move forward.
Will this request go into your general mailbox or do I need to respond to someone in particular? Thanks
Hello Kevinh,1 of 1 people found this helpful
Do you currently reside within the property / is the home your primary residence? What is your approximate loan to value? Is your pest control / real estate business profitable? I'll follow up this post once more info is provided. Good Luck!!! Also, check out fund1stcapital.com for commercial property financing.
No, we do not reside in the property. Look for a LTV between 80 to 85 percent. Yes, the business is very profitable and growing.
Kevinh,1 of 1 people found this helpful
Thanks for your follow up. For a non-owner occupied commercial loan that requires 85% Loan to Value it will require a pretty good credit score to come close to your current residential rate. It's a plus that your loan should debt service given that the business has strong revenue (assuming low expenses). Let me know if you need additional help. Best Regards!!!
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We have a residential house which we brought in 06 for our pest control and real estate business. It has since been rezoned commerical and we need to refinance this property commerical since it was done initially as residential. Our business is located in GA and the payoff is approximately $113K not counting Closing cost. The current loan is an ARM which goes into effect in August 09. How can we get this loan refinance as a commerical loan? Please advise.