Two buildings, two zonings, one easy solution

Loan Priority

1st Mortgage

Loan Amount

$2,080,000.00

Loan to Value (LTV)

48.4%

Loan Purpose

Borrower required funds to pay off the existing mortgage. The property was enhanced with two structures: a 2-storey heritage residential home, as well as a 1-storey commercial building. Hillmount Capital was able to fund a 1st mortgage in order to refinance the existing mortgage and provide the borrower with time to obtain approval for the site development.

Location

Scarborough, ON