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…
The loan of the week for January 8, 2014 is a cash-out refinance for a 11-unit multifamily in Berkeley, California. The $1,300,000 loan is fixed for 5 years at 3.711% with a 3-year step-down prepayment penalty of 3%, 2%, 1%, then 0%. For more information, click here.
The Rincon Group is featuring a new lender program with a 4.850% 15-year fixed rate and step-down prepayment penalty for 3 years. The loan of the week is a $937,500 loan that is fixed for 5 years at 3.800%. The 8-unit multifamily was located in Berkeley, California. For more information, read more.
This week’s featured loan is a $6.8 million rate and term refinance of a 84-unit multifamily in Santa Rosa, California. The loan was fixed for 5 years with a 30-year amortization schedule and a step-down prepayment penalty for 3 years. For more information, click here.
The loan of the week for December 4, 2013 features a cash-out refinance for a 18-unit multifamily in Oakland, California. The $2,000,000 loan is fixed for 5 years at 3.800% with a 30-year term and amortization schedule. For more information, click here.
The loan of the week for November 20, 2013 features a 7-unit multifamily in San Jose, California that was 29% vacant at the close of escrow. The $705,000 loan is fixed for 5 years at 4.03% and was closed in 30 days. To read more, click here.