$12.65 Million | Multifamily
- Loan Amount: $12,645,000
- Loan Term: 24 Months
- LTV: 70%
• The borrower was trying to refinance out of a higher interest loan.
• The borrower was trying to get a loan as a Class C property.
• Money360 took the time to get comfortable with the deal and were able to structure the loan that allowed the borrower to get the deal funded quickly.
• The deal structure enables the borrower to rehab the property to get higher rents once the property has been rehabbed.
• The borrowers plan to stabilize the property over the next couple years and get agency financing.
• Money360 provided a lower rate than their current lender
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