The borrower is using he funds to purchase commercial industrial/warehouse building. Borrower intends to payoff the mortgage through a construction loan with a traditional lender.
loan overview
$6,000,000
loan priority
1st. Mortgage
loan type
Purchase
loan to value (LTV)
58.80%
appraisal value
$10,200,000
interest rate %
Sub 10%
term length (months)
24 months
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