- Loan Amount * $480,000
- Rate * 9.99%
- ReProp’s Value * $800,000
- Term * 18 Months, Interest Only
- Lien Position * First
Our borrower owned a rental property free and clear. With the high demand in housing, he wanted to add an ADU in the rear of the property. Our loan will fund the construction of this unit. Upon completion he will refinance with a conventional lender.