– $1.9MM No Doc Commercial Mortgage
– Atlantic City, NJ
Pennant received a referral from a special assets group at a regional bank. Their client needed help obtaining a commercial mortgage for an unanchored strip center in Atlantic City. Pennant was able to secure a $1.9MM No Doc Commercial Mortgage at 8% on a 30 year schedule with no balloon. The No Doc Loan Program underwriting with this project was just a credit report on the sponsor and an appraisal.