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Deal Details
Private Loan Type
Refinance
Approx. Funding Date
09/17/2018
Property Type
Retail
Property City
Redondo Beach
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 $950,000 1st lien position refinance bridge loan secured by a storefront retail center located in high-traffic Redondo Beach, California. The Borrower needed a bridge loan to refinance current debt and pull cash out. PMF was able to fund in 7 days with no appraisal, no credit, and no prepay penalty. The interest rate was 8.99%, interest-only. This refinance bridge loan was funded in September 2018.
Funded By
Private Mortgage Fund, LLC
CA Direct Lender Funding in Less Than 1 Week with No Prepayment Penalty