Single Family Home Portfolio in Phoenix, Arizona
The sponsor originally went directly to their bank requesting to refinance their SFH portfolio. Even though the sponsor had an existing banking relationship, the sponsor was unsuccessful in getting their refinance approved. The sponsor heard about CommLoan from a broker contact and decided to give us a try.
Utilizing the platform to create a competitive lending environment, combined with putting together a comprehensive loan package, CommLoan was able to secure a cash-out loan resulting in $700,000+ cash back to the borrower. Ironically, it was the same bank that initially turned down the sponsor.