Santa Barbara Cross2018-08-292018-08-29https://www.loneoakfund.com/wp-content/uploads/2018/04/lone-oak-fund-logo.pngLone Oak Fundhttps://www.loneoakfund.com/wp-content/uploads/2018/08/2018-06-25-22.45.30.jpg200px200px
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.
