- 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 will be paid off with bank financing upon completion.
