Location: San Jose, CA

Loan To Value: 60% LTV and 100% Rehab
Loan Type:  Construction Completion Loan
Total Loan Amount: $1,800,000

This client had a construction project and paid all cash. With more projects expected to get approved by the building/permit department, they decided to obtain a construction loan so they are not short of cash for the other projects up ahead. They had difficulty finding a lender to provide a construction completion loan and we were able to not only provide funding but also provided some cash at close.