About this Transaction

We recently closed a 14 unit apartment purchase in Long Beach.  This loan was arranged for a first time buyer of 5+ unit properties at 75% LTV!  We were able to arrange a hybrid/fixed loan with the following program highlights:

  • 75% loan to value
  • 5 year fixed 3.60%
  • 45 day close
  • Step-down prepay
  • Property was a majority studio units

As a first time buyer with no experience the buyer was nervous about their ability to get a loan.   We were able to find a lender who was comfortable with the buyer’s financial standing and agreed to make a loan at 75% loan to value.  The building has a lot of room for upside and the bank realized it would be a strong asset.  We closed the loan based on the original promised terms in the time frame allowed in the escrow period without extension. 


The borrower was extremely grateful with how well we performed.  We were happy to have been able to help!

 

 

45

Day Close

5

Year Fixed at 3.60%

75

Loan to Value

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