North Vancouver

Second Mortgage, Construction

Loan Amount: $900,000
Interest Rate: 8.50%

Term: 12 Months
Loan To Value: 65%
Location: North Vancouver

Second mortgage financing was provided to a repeat client on a spec project in Canyon Heights, North Vancouver. The borrowers had already acquired the lot with a bank mortgage and had begun construction with their own funds. The loan was funded on a cost to complete basis up to 70% of cost.