Challenge / Opportunity: Borrower needed to refinance a maturing bank loan and small 2nd on their tenanted Mixed-use property. Borrower also wanted to get a longer term loan.

Solution Provided: Redwood Mortgage did a new First for $990,000 with a 5 year term and fixed interest only rate. The Mixed-use property was 100% occupied with long term tenants. The small cash out was well documented for business purposes.

Borrower showed good income with a well located property. Our Five year loan term had a 3 year prepayment penalty. The LTV was 63%.