Client Completes Cash-Out Refinance in Detroit, Michigan

Our client recently completed a cash-out refinance on a multifamily property located in Detroit, Michigan. The loan amount for this deal is $1,050,000 with a combined LTV of 55%. A second property located in a similar area of Detroit, Michigan was also used as collateral to provide the necessary funds to pay off the current mortgage. Comprised of 17 units, the property will also have several renovations as part of the used funds received from this deal. 

We are proud to be serve a small role in the revitalization of the great Detroit area. Our team loves to review deals that can have an instrumental impact in the growth and success of its surroundings.

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