- Loan Amount * $250,000
- Rate * 9.75%
- Appraised Value * $750,000
- Term * 6 Months, Interest Only
- Lien Position * First
Our return borrower was deep into a remodel with many cost overruns. Due to the ample equity in the property, we were able to make the borrower a loan to provide enough funds to complete the remodel. The exit is bank financing.