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All Forum Posts by: Simmy Ahluwalia

Simmy Ahluwalia has started 107 posts and replied 1332 times.

Post: Looking for Brokerage to Facilitate Fannie Mae Refinance on 2 Apartment Buildings

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,575
  • Votes 185

@Brandon Weis - we offer this service.  We do work with several Agency groups, AND, Credit Unions who can offer comparable rate/term programs similar to Agency.  Reach out and let's discuss your Refi deals.  I do have one Credit Union who quoted me 5.5% fixed rate for 5 years on a 1.25+ dscr - Loan Range $7M to $40M.

Post: Refinancing a NNN

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,575
  • Votes 185

@Ash Gowda - typically a 1.3-1.35 dscr.  5/7/10 (all dependent upon the lease term and re-ups); Rates fluctuate but for now from low to high 6's fixed.

Post: refinance for foreign investor

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,575
  • Votes 185

If you had U.S. credit, then 70-75% is doable, else 65% is the max for cashout.

Post: Refinancing a NNN

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,575
  • Votes 185

@Maya S. - we finance NNN properties. I can tell you that you won't secure a REFI term longer than the term that is left on your lease. So, if there is 3 years left, then it would be a 3 year fixed term loan. If you're able to have the tenant re-up for a longer term, then you can Refi for that term.

Post: CASH-OUT RE-FI at 80% LTV or better.

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,575
  • Votes 185

@Gavin Wright @Ali Balapour - I'm in the ATL.  Working on one 80% c/o Refi, the dscr numbers work, but the rate is 8.25% on a 30 year fixed.

Post: Large SFR portfolio buyer

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,575
  • Votes 185

@Osazee J Osagie - can you Proof Up that you have the cash/liquid capability to take down portfolios of this size?

Post: Need Advice on Commercial Loan on existing retail buildings

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,575
  • Votes 185

@Sudheer Kumar - we can help here but need to better understand the Refinance out of the loan assumption better.  Feel free to reach out.

Post: NNN in QSR - Percentage Rent Lease vs 5 yearly increases

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,575
  • Votes 185

@Kiran R. - Great feedback from John. Yes to #2. And we do finance NNN properties. Feel free to reach out.

Post: Mixed use property - any 30 year fixed products under 7%?

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,575
  • Votes 185

@Karolina Powell - did you secure the financing or still looking?

Post: New Construction Loan

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,575
  • Votes 185

@Tobi Isaacs - we are ATL based and do a lot of SPEC construction in the area.  Reach out.