- Loan Amount * $700,000
- Rate * 10.99%
- Appraised Value * $1.3MM
- Term * 24 Months, Interest Only
- Lien Position * Second
Our borrower was purchasing an 85-acre property in Calaveras County. The seller was willing to carry financing but only in first position. Our borrower owned other real estate in Sacramento and El Dorado Counties which we were able to encumber in first position and a second lien on the Calaveras County property.