Bridge Loan For Multifamily Property

Loan Type:
Bridge Loan
Loan Amount:
$28,000,000
Loan Term:
2 YR
Amortization:
Interest Only
Recourse:
Non-Recourse
LTV:
67%

Challenges

• The borrower was looking to pay off a previous lender by year end and the lender they were working with backed out at the last minute.
• Our borrower had little time before their loan matured.

Solutions

• Money360 provided a rate and term refinance loan on a newly constructed 288-unit multifamily complex located in Hattiesburg, MS.
• The loan paid off the borrower’s previous lender that was due at the end of the year.
• When the borrower’s current lender was unable to perform, the broker called Money360 because of our proven track record of success and we got the deal done on schedule.

Fred Barrow

Money360

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