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The borrower used the rental property loan to refinance an existing bridge loan on this leased 2-unit property in the Capitol Hill neighborhood. The borrower realized a monthly savings by paying off the high-rate bridge loan and intends to hold the property as an investment.
The borrower used the loan to refinance an existing bridge loan on this leased investment property that the borrower has owned for several years. The borrower’s existing bridge loan was maturity and the new loan will give the borrower additional time to secure long-term bank financing.
The borrower used the loan to purchase a single-family residence to be used as a rental investment property. The borrower is building a portfolio of investment properties to provide income in the coming years.
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