ReleaseWire Connect

Select Commercial Funding LLC is pleased to announce the closing of a $1,050,000 cash out refinance of a commercial mortgage loan to allow one partner to buyout the other partner. The property is located in Brooklyn, New York. The borrower received a 10 year fixed rate with a 25 year term and amortization. The loan had a low pre-payment penalty.

Select Commercial Funding LLC is pleased to announce the closing of a $1,111,000 loan for the purchase of a 17 unit apartment building located in Bensenville. The borrower received an 80% loan to value and a 10 year fixed rate with a 30 year amortization.

Select Commercial Funding LLC is pleased to announce the closing of a $1,150,000 cash-out refinance for a 4 unit warehouse property located in Albuquerque New Mexico. The borrower received a 25 year term and amortization. The cash-out is being used for improvements on the property.

Select Commercial Funding LLC is pleased to announce the closing of a $1,400,000 cash-out refinance for a Restaurant located in Castle Rock Colorado. The borrower received a 25 year term and amortization. The cash-out was being used for the construction of a new location.

Selectcommercial.com announced on Thursday, January 7th 2016, the closing of a $750,000 cash-out refinance of an apartment building located in San Jose, CA (Santa Clara County). The borrower received the loan with a 5yr Fixed Rate with 30 year term and amortization.

Selectcommercial.com announced on Thursday, November 5th 2015, the closing of a $4,500,000 cash-out refinance of a mixed use property that included 6 retail spaces, 18 apartment units and parking. The property is located in Chicago, IL (Cook County). The borrower received a 20-year loan term with the first 5 years at a fixed rate, followed by an option for 15 years at an adjustable rate. The loan has an amortization period of 30 years. The borrower was able to replace an existing high rate loan and obtain cash-out for consolidation and investment. The loan included an easy stepdown prepay penalty instead of the customary yield maintenance prepayment penalty. The loan was non-recourse to the borrower and did not require any escrows for taxes and insurance.

Selectcommercial.com announced on Tuesday, June 30th 2015, the closing of a $1,116,000 purchase of an apartment building located in Oklahoma City, OK (Oklahoma County). The borrower received a 7 year ARM with a 25 year amortization. The loan to value was 75%.

Selectcommercial.com announced on Wednesday, June 10th 2015, the closing of a $1,295,000 Cash-out refinance of an office/retail building located in Ann Arbor, MI (Washtenaw County). The borrower received a 5 year fixed rate term and a 20 year amortization.

Selectcommercial.com announced on Wednesday, May 6th 2015, the closing of a $8000,000 refinance of an office/retail building located in Southampton, New York (Suffolk County). he borrower received a 10 year fixed rate term and a 25 year amortization.

Selectcommercial.com announced on Friday, January 9th 2015, the closing of a $952,000 purchase of a 37 unit apartment property located in New Smyrna Beach, FL. The borrower purchased this property for an investment. He received a 5 year fixed rate loan with a 25 year amortization. It was acquisition financing.