Deal Details
Private Loan Type
Purchase
Approx. Funding Date
05/15/2018
Property Type
2-4 Units Residential
Property City
Wilmington
Property State
CA
Lien Type
1st Mortgage
Payment Type
Amortized
Deal Summary
Diversified Mortgage, a private lender, funded a $1,000,000 1st lien position bridge loan for the acquisition of a 2-unit multifamily property in Wilmington, CA. Our loan-to-value was 65%. The interest rate was 7.25%, amortized over 30 years, due in 5 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.