Financing for the future
Loan Priority
1st Mortgage
Loan Amount
$2,400,000
Loan to Value (LTV)
60%
Loan Purpose
orrower required funds to pay off their existing 1st mortgage while they obtain permits that allow them to convert the building into a mixed-use property with residential rental units. The borrower will then obtain construction financing to perform the renovations and upon completion refinance with a financial institution.
Location
Barrie, ON