• Loan Amount: $240,000
• Rate: 8.75%
• Appraisal Value: $ 545,000
• Term: 180 months
• Lien Position: First

The borrower was referred to us by an institutional lender with whom we have a long-term relationship. The borrower needed to refinance a maturing loan and make sure the junior lien holder would accept to subordinate. We worked with the senior and junior lenders to ensure the transaction would be acceptable and completed within the required timeframe. Although many parties were involved, the process went smoothly from beginning to the end. This is an adjustable rate mortgage loan indexed to the WSJ prime rate.