Private Money Cash Out Refinance for Multifamily Property in Oxnard, California

Funded by S&L Capital Group

$1,320,000

Deal Details

Private Loan Type

Equity Cash Out

Approx. Funding Date

11/18/2021

Property Type
Multifamily
Property City

Oxnard

Property State

CA

Loan Term (months)

12

Lien Type

1st Mortgage

Loan-to-Value

58.67%

Number of Units

8

Deal Highlights

We did not require an appraisal, a due diligence deposit, or a personal guarantee.
We charged a 1% origination fee with no prepayment penalty.

Deal Summary

S&L Capital, a direct private lending firm in Southern California, funded a $1,320,000 cash-out refinance secured by an 8-unit multifamily property in Oxnard, CA. This deal was referred over from a commercial real estate broker in Ventura County. His client was in Escrow to close on another multifamily acquisition and wanted to leverage the subject property which was owned free and clear of any mortgages. Our cash-out loan provided the funds needed to close on the purchase with an all-cash offer. The loan-to-value was just 58.67%, and the loan term was set at 12 months, with no prepayment penalty. We charged a 1% origination fee. We did not require an appraisal or a due diligence deposit, and we also did not require a personal guarantee. This private money loan was funded in November 2021.

Funded By

S&L Capital Group

Brea, CA