• Loan Amount * $249,000
  • Rate * 7.99%
  • Appraised Value * $2,225,000
  • Term * 18 months, IO
  • Lien Position * First

Our Borrower was in contract to purchase an investment property. Bank financing wouldn’t have been very timely because the loan was made to an entity with a foreign national as manager. We were able to make the Borrower an 18-month loan while they work on long-term conventional financing.

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