Santa Barbara Cross


Loan Amount $2,000,000
Transaction Acquisition and Cash Out Refinance
Collateral An ocean-front SFR cross collateralized with an apartment building
Location Santa Barbara, California
Purpose of Loan To acquire the investment SFR with 90% financing
Exit Strategy Refinance with permanent financing
Loan Term 12 months
Interest Rate 7.50% interest only
Origination Fee 1.00 point
Additional Terms No prepayment penalty. No yield maintenance. Non-recourse.
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