$1,375,000 loan secured by a 6 unit- multi-family property in San Francisco
55% LTV
12 month term
5.99% interest rate
1.25 lender points
No appraisal required

Coast Funding Corporation funded a cash-out loan on a 6-unit multi-family property in San Francisco. The borrower came to us requesting a quick close with conventional terms to complete the renovation of his daughter’s commercial property. It was a lot to ask but given the low LTV of 55%, which we determined without an appraisal, we were able to arrive at our lowest interest rate to date. Coast Funding Corporation provided the borrower with the best of both worlds: a quick closing and very attractive terms. We completed our due diligence and delivered loan documents to escrow within 10 days of receiving a signed term sheet. Unlike most bridge lenders, Coast Funding Corporation has the experience and ability to not only fund a broad range of deals from commercial bridge loans to residential construction loans, we also have the capital base that allows us to price deals appropriately based on the risk of the deal.