Successful Kansas City Cash-Out REFI
01 March, 2021 · 3 min read
Today we’re highlighting the cash-out refinancing of a 20-unit portfolio of quadraplex rental properties located in Kansas City, Kansas. The client needed to retire a construction/rehab loan and was looking to recapitalize the ownership at an attractive rate, minimal closing costs, and with a long-term amortization. Terrydale Capital located a lender meeting all the client’s criteria.
What We Were Up Against
The client needed to secure a loan based upon the stabilized value of the recently rehabilitated property. Terrydale worked with the client and the lender to structure the loan terms to meet the client’s needs, and provided comfort to the lender. Ultimately, the deal was completed through the efforts Terrydale Capital’s seasoned team of professionals and its outstanding partnerships with the lending community.
What Our Team Helped Turn Around
Using our full-service approach, we helped our Client secure a refinance of their construction loan with an interest rate that is approximately one-half of their prior loan rate. Closing terms include:
- $1,088,000 Loan Amount
- 4.19% Fixed Rate for 5 Years
- 80% LTV
- 25-Year Term and Amortization
- Total of All Lender Fees: Less than $1,000
The team at Terrydale Capital consistently goes above and beyond to secure the best possible refinancing terms for our clients. Are you dealing with issues related to market volatility during COVID-19? Worried about high fees and missing out on better options? We have ways to help. Give us a call and see what we can do for you.
Your Success is our Priority!
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