The loan of the week for April 22, 2015 features a six-unit multifamily in San Jose, California. The $1.1 million loan is fixed for five years at 3.250% and has a 30-year term, fully amortizing. For more information, click here.
The loan of the week for April 8, 2015 features a 13-unit multifamily in Oakland, California. The $1,390,000 loan is fixed for 7 years at 3.660% and has a 30-year term, fully amortizing. The loan was closed in 35 days. To read more, click here.
The loan of the week for April 2, 2015 features a multifamily complex in Pleasant Hill, California. The $4,800,000 bridge loan is adjustable starting at 2.550%. It is also partial recourse and was 78% loan-to-project-cost. To read more, click here.
For March 19th, the loan of the week features a 48-unit multifamily in San Rafael, California. The $4 million cash-out refinance is fixed for five years at 3.380% and has a step-down prepayment penalty. Click here to read more about this and the current market rates.
The featured loan for March 11, 2015 is a 20-unit multifamily in Los Angeles, California. The $2.3 million loan is fixed for 5 years with 3 years of interest-only payments. For more information, click here.
The featured program of the week is a nationwide private bridge lender with quick funding times of approximately two weeks. They can fund up to 80% loan-to-cost with interest rates starting as low as 7%. Their program includes customizable terms, such as interest-only, non-recourse, partial collateral releases, and no prepayment penalty. Read our newsletter here…