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

5 Units Multifamily

Another Successful Funded Loan

  • $585,000
  • 5 Year fixed @ 4.65%
  • C/O Refinance-72% LTV
  • 5 Units
  • Multifamily Property
  • Los Angeles, Calif.

ASSIGNMENT:

4 Refinance cash outs concurrently with a purchase. Proceeds of the cashout used for the down payment of purchase.

CHALLENGE:

Coordinating 5 loans with 2 different lenders to close in specific sequence to complete borrower's purchase transaction.

SOLUTION:

Rush order for appraisal was performed on the refinance in efforts to making the refinance loan close faster than the purchase.  All borrower paperwork completed on time to make the timing of both loans. Rates were locked on all loans to avoid loan amount changes due to moving rates. All 5 loans closed as planned.