Brighton Office Cash-out Refinance
3.85% Fixed, Cash Out
StackSource recently closed a cash out refinance loan for a 100% occupied, 6-unit office building located in Brighton, MI. The borrower acquired the property for 100% cash in December 2019, and will now use cash out proceeds from the loan to acquire additional investment real estate in Southeast Michigan. Capital Advisor Chris Peters secured financing from a credit union lender that provided a 10-year term and 20-year amortization, with the rate fixed at 3.85% for the first 7 years.
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