West Vancouver

First Mortgage, Construction

Loan Amount: $4,000,000
Interest Rate: 6.95%

Term: 18 Months
Loan To Value: 25%
Location: West Vancouver

A first mortgage of $4,000,000 was provided to repeat clients who were finishing one single-family development project and beginning another.  The loan was secured by both properties and was used to construct a home on the new property.  The finished houses were eventually sold for a combined price of over $21,000,000, resulting in an ending loan to value of 25%.