Small Farm in Washington County, OR
Loan Amount * $306,000 Rate * 12.39% Appraised Value * $619,000 Term * 15 yrs Lien Position * First Our Borrower had a loan maturing. With traditional financing difficult, we were able to provide a fully amortizing loan so the Borrower didn’t need to continually...
Construction Loan of 2 SFR’s in Arcata
Loan Amount * $350,000 Rate * 9.50% Appraised Value * $1,070,000 Term * 12 months, IO Lien Position * First Our Borrower owned two parcels with a home on each. He had permits to build another home on each parcel. We made a construction loan to build both SFR’s and...
Cash out Refi on Development Project
Loan Amount * $1,250,000 Rate * 10.99% Appraised Value * $4,245,000 Term * 36 months, IO Lien Position * First Our Borrower acquired these light industrial properties in 2008. The Borrower is planning on a large-scale development project with the neighboring...
Refi on Mixed-use property in Humboldt County.
Loan Amount * $240,000 Rate * 8.99% Appraised Value * $500,000 Term * 24 months, IO Lien Position * First Our Borrowers acquired a mixed-use property and needed to refinance. The Borrowers are opening a business on the first floor and needed time to stabilize the...
