Purchase Bridge Loan for Duplex in Wilmington, California

Funded by Diversified Mortgage

$214,500

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.

Funded By

Diversified Mortgage

Multifamily Bridge Loans only. Interest Rates are 8.5% for 4-year term, 8.25% for 2 years, 7.95% for 1 year.