The Madison Group
(TMG), a leading national lending source of commercial property financing, arranged
the $712,500 cash out refinance for a mixed-use property in Utah. The property consisted of a 4-unit apartment
on the upper level and 2 commercial spaces on the lower level. The final loan terms were a rate of 4.25% on
a 10-year fixed term, 25-year amortization recourse financing.
The borrower goals were to lower his current interest rate and
get some cash out to purchase an additional property.
TMG negotiated and worked diligently with the lender on a
cash out refinance to give the borrower the cash they needed to purchase
another property. The borrower was able to secure a loan with a lower rate and
close in time to purchase another real estate transaction.
Property: Mixed Used
Loan Amount: $712,500
Interest Rate: 4.25%
Term: 10 Years
Amortization: 25 Years