$275,000 2nd lien at 50% LTV on a construction loan. $800,000 current value with good upside once completed.
10.25% yield on a 10.99% note for 3 years with a 6 month prepay penalty term.
Borrower has most of the materials, needs money for labor costs to complete the 3 unit remodel.
This process is to reserve your loan. Actual loan purchases will be conducted via bank transfer Dismiss