Deal Details
Private Loan Type
Refinance
Approx. Funding Date
08/15/2025
Property Type
2-4 Units Residential
Multifamily
Single Family Residence
Property City
Rochester
Property State
NH
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Property Value
$500,000
Loan-to-Value
35%
Location Type
Suburban
Property Condition
Good
Occupancy at Closing
Partially Occupied
Number of Units
5
Borrower's Plan
Continue Rental
Exit Strategy
Refinance
Borrower Credit Rating
Poor
Interest Rate
12%
Deal Summary
Gelt Financial, a direct hard money lender, funded a $175,000 senior-lien position mortgage for the refinance of a multifamily in Rochester, NH. The property’s total value was roughly $500,000, so our loan-to-value was 35%. The Borrower did not provide income verification, and their credit was too low for bank guidelines. The subject property was in good condition at closing. The interest rate was 12% floating. The loan term was set at 12 months. This loan was funded in August 2025.
Funded By
Gelt Financial, LLC
Creative Private Financing for Commercial Real Estate since 1989