Deal Details
Private Loan Type
Purchase
Approx. Funding Date
10/15/2017
Property Type
Multifamily
Property City
Long Beach
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Deal Summary
Diversified Mortgage, a private lender, funded a $1,000,000 1st lien position bridge loan for the acquisition of a 4-unit multifamily property in Long Beach, CA. Our loan-to-value was 65%. The interest rate was 6.5%, amortized over 30 years, due in 5 years. This purchase bridge loan was funded in October 2017.
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.