This property was not your typical apartment property, but rather a “one-off” building (meaning some amenities of a typical apartment building were unavailable, which banks don’t particularly like to finance…)
We were able to finance the purchase with a fixed-rate, conventional purchase loan with cash out, which also provided extra capital for a new roof.
Even if you have an oddball property type, we have solutions for virtually every stabilized building. Typically, the rate difference between our lenders and the bank is only around 1%-2%! The important difference is that WE CLOSE on these properties when the bank won’t!