12 Units Multifamily
Another Successful Funded Loan
- $1,332,000
- 5 Year fixed @ 4.50%
- Purchase-62% LTV
- 12 Units
- Multifamily Property
- Panorama City, Calif.
ASSIGNMENT:
Purchase Loan for returning client. Adding third apartment unit complex to his portfolio.
CHALLENGE:
Short escrow in a rent control area.
SOLUTION:
Utilized a lender that was able to underwrite at 1.15DCR to maximize leverage-coordinated appraisal with 10-day turn around to close on time.
