$795K Refinance: Two Loans Retired on a San Diego Office Building
San Diego, CA — A repeat borrower carried two separate loans against the office building his own business occupied, both at high interest. A single $795,000 first mortgage from Helvetica paid off both lenders and left him with one payment at a lower overall rate.
The Borrower's Problem
The borrower owned a small office building in San Diego and ran his business out of it. Over time two separate loans had been placed against the property, both carrying high interest. He was servicing two lenders, two payment schedules and two sets of terms on one building.
A conventional refinance would have consolidated the debt, but it would also have meant documenting income in the way a bank requires — a slow process, and one that does not suit every business owner's paperwork. Meanwhile the high-rate debt kept accruing.
The Helvetica Solution
Helvetica underwrote the collateral and the borrower's payment history rather than a full income file, using a stated-income structure. A single $795,000 first mortgage at low leverage paid off both existing lenders at once.
The borrower had financed with Helvetica before, which shortened the process further — a known sponsor, a local property and a conservative loan amount against a building with substantial equity in it.
Benefit to the Borrower
- Two lenders replaced by one loan and one payment
- Lower overall interest rate than the debt it retired
- Stated-income structure — no full bank income file required
- Low leverage preserved the equity built up in the building
- Quick close, without the timeline of a conventional refinance
Deal Highlights
- First mortgage of $795,000, small-balance commercial
- Owner-occupied office building, San Diego, CA
- Two existing loans paid off in a single transaction
- Repeat Helvetica borrower
- Local property, local underwriting
Carrying more than one loan on the same building?
Helvetica funds bridge and refinance loans from $300K–$10M+ on investment and business-purpose real estate, typically closing in 3–10 days following receipt of all requested documentation.
