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Loan Amount:
$4.5 million +
Loan Type:
Construction Loan
Interest Rate:
12%
Origination Fee:
2%
Loan Term:
6 months
Loan IRR:
26.1%
Details: $4.5 million loan for the land acquisition plus additional funding for luxury spec builds for lot buyers. The borrowers paid off our land loan and we funded several home builds for them after paying off the land loan.