RECENTLY FUNDED TRANSACTION:
Loan Amount: $2,250,000
Loan Purpose: Cash Out Refinance
Property Type: 33 Unit Multi-Family
30-Year Fixed at 5%. Yes, that is correct. 30-year fixed at 5%! After talking with the principles on the transaction, they decided it was best for them to lock into a 30-year fixed to protect against a rising interest rate environment. The primary challenge of the transaction was restructuring the borrowing entity to comply with loan guidelines for two members who were not U.S. citizens.
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