Completing a Family Home

Loan Priority

2nd Mortgage

Loan Amount

$1,305,000

Loan to Value (LTV)

62%

Loan Purpose

The borrowers ran out of funds midway through the construction of their new family home and needed a solution to keep the project on track. We stepped in promptly, arranging a construction facility to cover the remaining hard costs, along with an interest reserve to support the project through completion. Upon finishing construction, the borrowers plan to refinance with a financial institution.

Location

Oakville, ON