GoodMortgage.com, a web-based mortgage banking company, has arranged $2.6M in purchase financing for a 107-unit apartment property in Kansas City, KS.
Based in Charlotte since 1999, GoodMortgage.com completed the complex financing deal to meet the borrower’s requirements and to secure financing available for them. The loan features include a 30-year term with a five-year fixed rate.
“This was a challenging transaction,” said Forrest Ranson, a commercial loan manager at GoodMortgage.com who arranged the financing. “We had time constraints due to the involvement of multiple 1031-exchanges and circumstances necessitated a change in the structure of the transaction mid-stream. But we were ultimately able to meet the borrowers’ requirements and secure favorable financing for them.”