News: Financial Digest
Posted: February 12, 2015
Gomberg Financial Services arranges $3.68m refinance loan for a portfolio of 11 multi-family properties
Gomberg Financial Services has arranged a 75% LTV $3.68 million refinance loan for a portfolio of 11 multi-family properties. The loan is fixed for five years with an interest rate of 4.5%, and amortized over 25 years. The loan also included a separate $500,000 line of credit.
This loan was placed with a local credit union because it enables the borrower to prepay part of the loan after one-year with no prepayment penalty. The majority of the properties are 3-Family houses.
Gomberg Financial Services has had a very successful relationship with the borrower dating back over 15 years.
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