Cash-Out & Purchase Private Money Cross-Collateral Bridge Loan

Transaction Details

Challenges

COMPLEX STRUCTURE: Coordination of closings on 3 different building. 2 Cash-Out Refinances & One Purchase, owned by 4 SEPARATE entities, & the Purchase needing to close first.

• Cash-out was to pay off a judge ordered partner settlement, which left us 3 weeks to close
• Borrower was high net-worth bankable client, and was still sensitive to market pricing

Solution

• 60 LTV Loan with NO Prepayment penalty
• 100% Loan to Purchase Loan
• 7.50% Fixed I/O 
• 3-week Quick Closing 
• Cross collateral structure amongst 3 properties so no funds out of borrower’s pocket
• Family Office lender relationship