ASSIGNMENT:

A seller of a small 6 unit building in the high desert market area referred his realtor and a buyer over to us to help on financing the purchase of his apartments. It was the buyers' first multifamily property and at ALB we like helping newcomers to the industry.

CHALLENGE:

This transaction was easy peasy. Nothing out of the ordinary here on this one; wish all deals ran this smoothly.

SOLUTION:

The borrower was adamant about obtaining a program that had no prepayment penalty, which we delivered, but it is worth mentioning that we could have offered a lower rate on a 5 yr fixed under a different program but with a 5-2-2-1% step down prepay. At the end of the day our goal is to assist our clients in accomplishing their goals, and I guess it would be fair to say that we did just that. :)