Cash-Out Refinance - Eastpointe, MI

Location: Eastpointe, MI.
Borrower Profile: New Client.
Work Description: Cash-Out Refinance.
Purchase Price: Client already owned the property.
Loan Amount: $33,000.
Loan Structure: 12 Months, Principal and Interest Payments.
Situation: This client needed a loan to update their investment property, pay off back taxes, and pay off a land contract that was coming up due. Once they make a few updates to their property we will connect them with a mortgage broker who will help provide a DSCR loan.