Rate and term refinance, with cash out, on a 1970’s-vintage multifamily. The property was substantially damaged in a hail storm, with resulting decrease in occupancy and increase in concessions, just as the loan went under Application. A half-million dollar rectification program was undertaken simultaneously with going through the due diligence process.

  • Loan Amount: $3,000,000
  • Units: 120
  • State: TX