Large Home on 1 Acre Hideaway in Town

  • Loan Amount* $325,000
  • Collateral Valuation: * $500,000
  • Term * 24 months, First Lien, IO
  • Rate * 10.99%

Our Borrower was in escrow for the purchase of a 2-unit rental property. An issue on title was discovered which ended any chance at conventional financing. To clear a title issue before bank financing is possible, our borrower will remedy permitting for a second unit or convert the property back to permitted status and exit our loan with a bank refinance.

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