West Vancouver

Second Mortgage, Construction Financing

Loan Amount: $1,100,000
Interest Rate: 8.50%

Term: 1 Year
Loan To Value: 68%
Location: West Vancouver

Development of a luxury dwelling that went over-budget. A second mortgage was provided to complete construction and recapitalize the borrower for the sales and marketing period. The home was listed for sale and the loan was repaid when the property sold.