24 Units Multifamily
Another Successful Funded Loan
- $5,195,000
- 7 Year Fixed @ 3.990%
- C/O Refinance-72% LTV
- 24 Units
- Multifamily Property
- Long Beach, CA
ASSIGNMENT:
This was a cash out refinance of a property that we had financed a few years prior. Since then the client had completely renovated the building and pushed rents to market levels.
CHALLENGE:
Very straight forward transaction. Goal was to maximize cash out while achieving the best rate and terms with a low doc program.
SOLUTION:
We structured the loan using a low doc program that underwrote aggressively at the start rate. Got the deal closed. Off to the next one.
