Residential Construction – Collateral on Rentals

Construction Mortgage

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