20 Units Multifamily
Another Successful Funded Loan
- $1,190,000
- 5 Year fixed @ 4.90%
- Purchase-70% LTV
- 20 Units
- Multifamily Property
- San Bernardino, Calif.
ASSIGNMENT:
Purchase loan in San Bernardino for 1031 exchange.
CHALLENGE:
Property denied by previous lender due to deferred maintenance, tuck under parking, near freeway, near gas station.
SOLUTION:
Loan was funded through lender allowing hold back accounts for deferred maintenance. Tuck under parking was cleared with help of loan broker, all concerns of freeway and gas station proximity addressed by loan broker. Loan closed and met 1031 deadline.
