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Loan Amount:
$3 million & $2 million
Loan Type:
Construction Loan
Interest Rate:
12%
Origination Fee:
3%
Loan Term:
12 months
Loan IRR:
43% ($3 m) & 27% ($2m)
Details: Two luxury home builds with the same borrower in Heber City, UT. One of them was inside the prestigious Red Ledges golf community. Our borrower refinanced both loans before completing the build. This resulted in a high IRR because not all of the construction draws were used, but he still paid the full term of interest.