We are excited to share the details of Green Sage Capital’s recent closing!
Closing Snapshot: 7 Family Multifamily Rate & Term Refinance located in Fitchburg, Massachusetts
- $709,500 Loan Amount
- Recourse
- Foreign National Borrowers
- 7 Units
- 75% LTV
- 8.25% Fixed 30 year interest rate (5 Year Treasury + spread)
- 5 year declining prepay
The borrower was able to pay off the existing hard money loan used to acquire the units as well as take additional cash out in order to rehab 5 of the units in order to bring them up to market conditions. This value add rehab will ultimately allow the borrowers to see higher rental income, increasing the overall value of the property.
Call Us: We’re here! So give us a call if you have a similar scenario that you’d like to run by us. We’d love the opportunity to structure the right financing for you and your business.
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