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Downey Retail Property

Property Details

Location

Property Type

Loan Amount

Downey, CA

Retail

$850,000

LTV

DSCR

Rate / Term

46%

1.51

5.79% / 5 year fixed 10 year term
- 25 year amortization

Challenge

Cash-out refinance on a fully occupied six-unit retail strip center. Borrower’s credit score was under 600 due to unfortunate circumstances. Global cash flow was also calculated to be below breakeven.

Solution

Axos Bank was able to get comfortable with the scenario based on strong historical collections, strong DSCR, low LTV, and borrowers net worth and post close liquidity.

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