The Coste Team closed a $1,600,000 loan with a correspondent life company for a 25 year fully amortizing loan at 3.75% with three (3) seven (7) year rate review periods which allows the loan to be paid down, paid off or sold without any penalty. This purchase transaction was part of a 1031 exchange complicated by the Covid-19 virus, the lender made accommodations to have certain documents signed post-closing. The certainty of execution this lender provided was evident as this loan was under application when the Covid-19 virus shutdown occurred, the lender met all of its obligations and even waived some of their requirements to ensure closing prior to the 1031 exchange deadline.