• (800) 510-2214
  • info@albcommercialcapital.com
  • Cal BRE License #01379610
  • (800) 510-2214
  • info@albcommercialcapital.com
  • Cal BRE License #01379610

24 Units- Multifamily Property Lakewood, Calif.

Another Successful Funded Loan

  • $2,000,000
  • 5 Year fixed @ 4.375%
  • Cash Out Refinance-39% LTV
  • 24 Units- Multifamily Property Lakewood, Calif.

ASSIGNMENT:

Cash Out Refinance

 

CHALLENGE

This loan came with multiple borrowers and multiple entities, some living in other States. Coordinating the request and receipt of all documentation was difficult with 7 borrowers, all of which were not sure they would qualify.

 

SOLUTION:

ALB worked with the borrower’s CPA and Management Company to gather documentation, so borrowers were not inconvenienced. ALB was able to underwrite all 7 borrowers before money was spent to start loan. The UW showed an approvable loan. With confidence, ALB submitted the loan request and successfully closed the loan with no problem.