Ridge Capital Group Secures $8.375M Refinance Loan For Los Angeles Single Family Property

The asset involved in this transaction is a Single Family property located in the Los Angeles market. The loan amount secured for this property is $8,375,000, which is a refinance type loan with a 30-year fixed term.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $8,375,000
• Loan Type: Refinance
• Loan Terms: 30 year fixed
• Lender: Ridge Capital Group
• Landlord's Representative: Ethan Moradifar & Rodd Rahnama - Ridge Capital Group

The transaction was facilitated by Ridge Capital Group, which played a pivotal role in securing the financing. The landlord's representatives, Ethan Moradifar and Rodd Rahnama, highlighted that the borrower's adjustable rate was poised to increase, prompting the necessity for a more stable financing option. Notably, the refinancing process qualified the borrower using only business bank statements, expediting the approval process and tailoring it for self-employed individuals.