We funded the purchase of this 120-unit multi-family complex with a 3-year fixed, 30-year, fully amortized adjustable-rate mortgage.
Even though the buyer of this 5-unit, multi-family property was a seasoned real estate investor, the property didn’t qualify for a traditional bank loan. When the broker turned to Velocity for a solution, we offered our FlexPerm loan. With
When the borrower was turned down by other lenders, the broker turned to Velocity for the first time. Our team completed a separate cash-out refinance on another property owned by the borrower and used the proceeds to partially fund
While the investor could have easily qualified for traditional financing, they required a quicker close to secure the deal on this multi-family property. We responded by closing the deal in just 12 days using our asset-based, FlexTerm mortgage program