Construction of Home with Laneway Suite
Loan Priority
1st Mortgage
Loan Amount
$1,625,000
Loan to Value (LTV)
64%
Loan Purpose
Borrower required funds to complete the conversion of an older home into a new 3-storey home with a laneway suite. The existing lender was not able to provide sufficient funds for the client to complete the project. Hillmount Capital was able to provide a loan which included sufficient funds to pay off the existing lender and complete the stipulated project. Upon completion, the property will be sold.
Location
Toronto, ON