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:
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.