Mixed-use Investment Property

Mixed-use investment property

Loan Priority

1st Mortgage

Loan Amount

$800,000

Loan to Value (LTV)

61%

Loan Purpose

The borrower required funds to purchase a mixed-use investment property with the intention of renovating and tenanting the property. They were going to obtain vacant possession and as a result, institutional financing was not available. In addition, the appraisal came in significantly lower than the purchase price.

Location

Hamilton, ON