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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
02/01/2018
Property Type
Industrial
Property City
Los Angeles
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Interest Rate
8.99%
Deal Summary
Private Mortgage Fund, a direct California private lender, funded a $3,000,000 1st lien position bridge loan for the acquisition of a two-building industrial property in Los Angeles, CA. We were able to fund the loan in 7 days at an 8.99% interest rate with no appraisal, no credit, no prepayment penalties, and no Borrower financials. This CRE purchase bridge loan was funded in February 2018.
Funded By
Private Mortgage Fund, LLC
CA Direct Lender Funding in Less Than 1 Week with No Prepayment Penalty