• Loan Amount: $1,000,000
• Rate: 6.99%
• Appraisal Value: $ 3,000,000
• Term: 2 years
• Lien Position: First

Our borrower is a well-established real estate developer with plenty of free and clear real estate assets. He needed $1,000,000 in a week or less to fund the completion of a residential project outside San Diego and reached out to a broker with whom we work frequently. The broker knew we could pull this together fast and at reasonable rates; and we did. Our 2-year step-rate interest only loan will allow ample time to finish the construction and market the property. Needless to say the borrower was impressed.