Location: Auburn Hills
Loan Amount: $8,500,000
Term: 7 Years
Amortization: 25 Years
Execution: Life Insurance Company
Non-recourse Portfolio Refinance
District Capital recently closed this $8,500,000 non-recourse refinance with one of their many correspondent life insurance companies. The loan has a 7-year fixed-rate term and a 25-year amortization. The lender provided a free 6-month rate lock, allowing us to close at 3.25%, which was inside the market by 150bps on the day of funding.