How New Statewide Cannabis Laws are Impacting Medical Marijuana Loans in California
California recently passed its own medical cannabis legislation to replace Proposition 215 (also known as the Compassionate Use Act of 1996). The new law known as the Medical Marijuana Regulation and Safety Act, known as MMRSA is set to take effect January 1, 2018....
CASHOUT REFINANCE ON DISPENSARY IN MARICOPA COUNTY, AZ
Loan Amount: * $1,138,250 Rate: * 9.25% Appraisal Value: * $1,855,000 Term: * 15 year, fully amortizing Lien Position: * First Our borrower owned this property free and clear. The request was a cash out to purchase another medical cannabis dispensary. Since bank...
CASHOUT REFINANCE ON RENTAL IN ALAMEDA COUNTY, CA
Loan Amount: * $300,000.00 Rate: * 7.99% Appraisal Value: * $820,000 Term: * 36 months, IO Lien Position: * First Our Borrower needed a cash out refinance to make improvements to the property, as well as others, and pay delinquent property taxes. The Borrower needs to...