
- Loan Amount: $207,000
- Rate: 9.75%
- Appraisal Value: $450,000
- Term: 12 months
- Lien Position: First
Our borrowers recently came into ownership of their primary residence. A neighboring 45 acre timberland parcel came up for sale. To act quickly, the borrowers pledged their primary as additional collateral for the acquisition of the timberland.