Jeff Glenn, Managing Director with Barry Slatt Mortgage, recently closed a $7,200,000 loan specific to a retail property, located in Rancho Cucamonga, California. The challenge was that the borrower’s had a long-standing relationship with another lender who offered them extremely competitive pricing.
After contacting twelve lenders, the borrower’s elected to move forward with Barry Slatt Mortgage after we were able to offer them the following structure:
- No lender fees
- Rate-lock at application – in order to ensure certainty of execution
- No pre-payment penalty
- Short term financing with rate reset options in three-year increments