The borrower is using the funds to provide bridge financing to buy-out an existing partner. Borrower intends to payoff the mortgage through refinancing with traditional financing.
loan overview
$1,900,000
loan priority
1st. Mortgage
loan type
Purchase
loan to value (LTV)
57.60%
appraisal value
$3,300,000
interest rate %
Sub 10%
term length (months)
24 months
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