Refinance and Equity Take Out for Cosmetic Renovations

Loan Priority

1st Mortgage

Loan Amount

$1,000,000

Loan to Value (LTV)

62%

Loan Purpose

Borrower required funds to pay off existing private loans, as well as an equity take out to make cosmetic changes to additional investment properties owned by the borrower. Once the renovations are complete, the borrower intends to refinance these properties with a financial institution to pay off the Hillmount Capital loan.

Location

Toronto, ON