Purchase Bridge Loan for 4-Unit Multifamily Property in Huntington Beach, California

Funded by Diversified Mortgage

$1,000,000

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. 

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.