Lending for vacant lots
Loan Priority
1st Mortgage
Loan Amount
$1,800,000
Loan to Value (LTV)
60%
Loan Purpose
Borrower recently severed a plot of land into two vacant lots and required funds to begin construction on two residential homes. Hillmount Capital was able to set up a land facility on closing, as well as a construction facility to build two single-family homes without any additional equity requirements.
Location
Toronto, ON