)
Deal Details
Private Loan Type
Refinance
Approx. Funding Date
10/15/2020
Property Type
Single Family Residence
Property City
Bayville
Property State
NJ
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Value
55%
Deal Summary
Commonwealth Capital, a company that helps businesses and investors access real estate-secured capital, funded a $225,000 refinance bridge loan in 1st lien position secured by a single-family residence under construction in Bayville, NJ. Our loan-to-value was 55%. The funds were used to pay off mortgage and finance the construction of an SFR. The Borrower was a real estate developer based in Ocean County, NJ. The loan term was set at 12 months. This SFR refinance bridge loan was funded in October 2020.
Funded By
Commonwealth Capital
Direct Bridge Lending for Real Estate Owners