- Loan Amount * $1,560,000
- Rate * 10.89%
- ReProp’s Value * $2,590,000
- Term * 18 Months, Interest Only
- Lien Position * First
Our borrower has been working on the subdivision for years and has obtained a final map approval from the city. Our loan was used for the purchase and construction of the horizonal infrastructure of 8 residential lots. He will begin construction and sale of quality homes upon completion of the lots.