Gomberg Lending funds 2 separate Fannie Mae loans - $656,2000

Gomberg Lending LLC has funded two separate Fannie Mae loans in Maine for the same borrower. The first loan was a $393,000 cash-out refinance loan of an 8-unit apartment building located at 400 Main St. The net proceeds from this loan enabled the borrower to purchase the neighboring 9-unit apartment building at 392 Main St. The second transaction was a $263,200 80% LTV purchase loan. Both loans were in process simultaneously and closed within two weeks of each other. Both loans are fixed for 10 years with an interest rate in the mid 6's, and amortized over 30 years. The borrower paid zero points on both loans.