The borrower is using the funds for the construction of a waterfront investment SFR property. Borrower intends to payoff the mortgage through refinancing with traditional financing upon completion of construction.
loan overview
$2,000,000
loan priority
1st Mortgage
loan type
Refinance
loan to value (LTV)
24%
appraisal value
$8,500,000
Location
Miami Beach, Florida
term length (months)
12 Months
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