Cash-Out Refinance 

$1,300,000 70%LTV Cash-out Refinance

Location: Sterling Heights
Loan Amount: $1,300,000
Term: 20 Years with rate reset/open prepayment window after 10 years
Amortization: 20 Years
Execution: Life Insurance Company

District Capital recently closed this 70%LTV cash-out refinance with one of their many correspondent life insurance companies.  The loan has a 20-year term and 20-year amortization with a fixed rate of 4% for the first 10 years.