| Debt Refinancing (Maximum 90% LTV): |
| Appraised Value |
|
$1,000,000 |
|
| Outstanding Debt |
|
$900,000 |
|
| Third Party Loan |
|
$500,000 |
(50%) |
| 504 Net Loan |
|
$400,000 |
(40%) |
| Equity |
|
$100,000 |
(10%) |
| Total |
|
$1,000,000 |
|
| Debt Refinancing (Less Than 90% LTV): |
| Appraised Value |
|
$1,000,000 |
|
| Outstanding Debt |
|
$500,000 |
|
| Third Party Loan |
|
$250,000 |
(25%) |
| 504 Net Loan |
|
$250,000 |
(25%) |
| Equity |
|
$500,000 |
(50%) |
| Total |
|
$1,000,000 |
|
Debt Refinance & Business Expense Cash Out
(Not to Exceed 85% LTV): |
| Appraised Value |
|
$1,000,000 |
|
| Qualified Debt |
|
$650,000 |
|
| *Business Expense Cash Out |
|
$200,000 |
|
| Third Party Loan |
|
$450,000 |
(45%) |
| 504 Net Loan |
|
$400,000 |
(40%) |
| Equity |
|
$150,000 |
(15%) |
| Total |
|
$1,000,000 |
|
Cash for Business Expenses is limited to 20% of the project
