Brooklyn Center, MN
- Refinance of a 24 unit multi-family property
- 80% LTV
- 3 year term / 25 year amortization
- No prepayment penalty
The borrower anticipates selling the property within the next 1-2 years so, the no prepayment option was crucial to the deal. The transaction was closed in less than 45 days and the borrower was impressed with the ease of execution.