30-Year DSCR Loan (No AMC Requirement) For Triplex in Pomona, CA

Funded by S&L Capital Group

$661,000

Deal Details

Private Loan Type

Residential Long-Term Rental

Approx. Funding Date

01/13/2022

Property Type
2-4 Units Residential
Property City

Pomona

Property State

CA

Loan Term (months)

360

Lien Type

1st Mortgage

Loan-to-Value

69.95%

Term

30 years

Rate Type

Fixed

Number of Units

3

Interest Rate

4.625%

Deal Highlights

Borrower acquired the triplex during the great recession and it had accumulated a lot of equity.
Our loan structure and pricing did not change from our initial quote on Day 1.
S&L Capital was able to use a local appraiser for the closing w/c saved 10 days on the timeline.

Deal Summary

S&L Capital Group, a California-based lending firm, recently closed a cash-out refinance for a repeat client of theirs in Pomona, California. The Borrower acquired the triplex right out of the great recession and had accumulated a lot of equity over the years. Our loan created liquidity in order for them to acquire their next flip. S&L Capital Group wrote a $661,000 loan at a 30 year, 4.625% fixed rate / 6.15% APR. What our client liked about the process is our loan structure and pricing did not change from our initial quote on Day 1. Where AMC’s have been extremely backlogged over the last 18 months, S&L Capital Group was able to use a local appraiser for this closing which saved 10 days on the closing timeline. Our final LTV came in at 69.95% and we were able to improve their note rate by 30.19%. This DSCR loan was funded in January 2022.

Funded By

S&L Capital Group

Brea, CA