July 20, 2022
BluePoint arranged the purchase financing for a Northern Washington RV Park that will undergo significant improvements. The loan amount is at 70% Loan to Cost and includes funds for more than $800,000 of improvements that are scheduled to be made to the property post close. Other loan terms include a 5-yr fixed rate at 5.00%, 2 years of interest-only payments, and a borrower-friendly step-down prepayment penalty.
- Property Type: RV Park
- Loan Type: Purchase
- Location: Northern Washington
- LTC: 70%
- Rate: 5.00% / 5 years Fixed
- Interest Only: 2 years
- Term: 10 Years
- Prepayment Penalty: Step down
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