- Loan Amount * $500,000
- Rate * 8.49%
- Appraised Value * $4MM
- Term * 12 Months, Interest Only
- Lien Position * First
Our borrower was in contract or purchase a large tract of land with a Large Track Dwelling approval in place. He has been working with a conventional Ag lender who continued to drag their feet. ReProp was able to step in and close the purchase quickly.