• Loan Amount * $1,235,000
  • Rate * 8.75%
  • Appraised Value * $1,900,000
  • Term * 9 months, IO
  • Lien Position * First

This is another repeat borrower who acquires homes in need of major remodeling.  Our loan was for the purchase of the home.  The borrower will work on the necessary building permits and refinance with conventional financing for the remodel.