Residential Construction – Collateral on Rentals
Loan Priority
2nd Mortgage
Loan Amount
$2,300,000
Loan to Value (LTV)
63%
Loan Purpose
Loan was provided for the construction of a proposed 8,181 SF, 2-storey detached home. Collateral mortgages against 2 rental properties were provided to reduce the LTV.
Location
Toronto, ON