Our borrower is an owner/builder who is constructing a modern spec home for resale in a quickly transforming neighborhood in East Delray Beach. He intends to pay our mortgage off with the sale proceeds upon completion.
loan overview
$990,000
loan priority
1st. Mortgage
loan type
Construction
loan to value (LTV)
59%
appraisal value
$1,670,000
interest rate %
Sub 10%
term length (months)
18 months
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