New Adjustable Rate Portfolio Program with 8.10% Life Cap

The loan of the week for February 16, 2014 features a 71-unit multifamily in Pleasant Hill, California. The $7,000,000 loan has a $700,000 earn-out provision and is fixed for 5 years at 3.925%. It also allows for interest-only payments for the first 3 years and a step-down prepayment penalty for the first 2 years. For more information, read here.

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