West Vancouver

Second Mortgage, Recapitalize

Loan Amount: $750,000
Interest Rate: 9.95%

Term: 1 Year
Loan To Value: 67.3%
Location: West Vancouver

After finishing construction on this home, the borrowers had unforeseen debts associated with building. This was a second mortgage on the house used to pay off those debts, as well as recapitalize personal accounts. After one year of living in the residents the borrowers sold the property and all mortgages were paid in full.