Purchase of 4-Unit Multifamily Property in Long Beach, California

Funded by Diversified Mortgage

$550,000

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

10/02/2017

Property Type
2-4 Units Residential
Property City

Long Beach

Property State

CA

Loan Term (months)

60

Lien Type

1st Mortgage

Payment Type

Amortized

Loan-to-Value

65%

Number of Units

4

Interest Rate

6.95%

Deal Summary

Diversified Mortgage, a private lender, funded a $550,000 1st lien position 4-unit multifamily property in Long Beach, CA. Our loan-to-value was 65% and the interest rate was 6.95%, 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.