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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
06/08/2018
Property Type
Multifamily
Property City
Long Beach
Property State
CA
Loan Term (months)
48
Lien Type
1st Mortgage
Payment Type
Interest Only
Deal Summary
Diversified Mortgage, a private lender, funded a $1,000,000 1st lien position bridge loan for the acquisition of an 8-unit multifamily property in Long Beach, CA. Our loan-to-value was 58% and the interest rate was 7%, interest only, due in 4 years. This purchase bridge loan was funded in June 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.