• Loan Amount: $70,000
• Rate: 8.75%
• Appraisal Value: $120,000
• Term: 12 months, IO
• Lien Position: First

This is a repeat borrower who was purchasing a property that would not qualify for bank financing.  There are many opportunities with the property; either rehabbing the existing structure or demolishing and building multi-family on this large triple lot.