Deal Details
Private Loan Type
Purchase
Approx. Funding Date
05/18/2018
Property Type
2-4 Units Residential
Property City
Wilmington
Property State
CA
Loan Term (months)
48
Lien Type
1st Mortgage
Payment Type
Amortized
Deal Summary
Diversified Mortgage, a private lender, funded a $214,500 1st lien position bridge loan for the acquisition of a duplex in Wilmington, CA. Our loan-to-value was 65% and the interest rate was 7.25%, amortized over 30 years, due in 4 years. This purchase bridge loan was funded in May 2018.