Apartment Building, Central Valley

Purchase Price: 2,460,000

LoanType/Use of Proceeds: Bridge/Construction Loan

Loan Amount: 1,230,000

LTV: 50%

Rate %: 10.5%

Term: 12 months

Rate Type: Interest Only

Plan/Notes Related To The “Loan”: Referred by their commercial lender, this developer needed a quick close to complete their condo-conversion.