Deal Details
Private Loan Type
Purchase
Approx. Funding Date
09/08/2018
Property Type
2-4 Units Residential
Property City
Huntington Beach
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Value
67.5%
Number of Units
4
Interest Rate
6.95%
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 Huntington Beach, CA. The interest rate was 6.95% and our loan-to-value was 67.5%. The loan term was set at 2 years. This purchase bridge loan was funded in September 2018.