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