One-fifth of a city block in Northern California

  • LoanĀ Amount * $180,000
  • Collateral Valuation: * $300,000
  • Term * 12 months, First Lien, IO
  • Rate * 9.50%

Our repeat borrower, a developer, wanted to purchase a fire damaged house to tear down and develop into multi-family. Conventional financing is very difficult when the home does not conform to conventional standards. He came to ReProp for the purchase money and will get a bank loan when it comes time for development.

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