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.