Portfolio Refinance 

$8,500,000 Non-recourse Portfolio Refinance

Location: Auburn Hills,MI
Loan Amount: $8,500,000
Term: 7 Years 
Amortization: 25 Years
Execution: Life Insurance Company

District Capital recently closed this $8,500,000 non-recourse refinance with one of their many correspondent life insurance companies.  The loan has a 7-year fixed-rate term and a 25-year amortization.  The lender provided a free 6-month rate lock, allowing us to close at 3.25%, which was inside the market by 150bps on the day of funding.