fundings
fundings
Funded Amount: $300,000
Type: Residential
Lender: Private
Location: Surrey, BC
Loan-to-Value (LTV): 75%
2nd mortgage to support business
A business owner needed funds after her commercial mortgage lender required a paydown due to rising interest rates. She needed capital to meet the demand and avoid business disruption. The paydown request left the business owner without sufficient funds, risking the renewal of her commercial mortgage.
The Problem
The business owner renewed her commercial mortgage and is working to refinance her primary residence and set up an operating line of credit.
Outcome & Key Takeaways
- A second mortgage can quickly provide capital to meet lender demands.
- Private lending offers flexible solutions in tough situations.
- Strategic financing ensures business stability.
We provided a $300,000 second mortgage on her primary residence at 75% loan-to-value through private lending, enabling her to meet the paydown and renew her commercial mortgage.
The Solution
Funded Amount: $300,000
Type: Residential
Lender: Private
Location: Surrey, BC
Loan-to-Value (LTV): 75%
2nd mortgage to support business
A business owner needed funds after her commercial mortgage lender required a paydown due to rising interest rates. She needed capital to meet the demand and avoid business disruption. The paydown request left the business owner without sufficient funds, risking the renewal of her commercial mortgage.
The Problem
We provided a $300,000 second mortgage on her primary residence at 75% loan-to-value through private lending, enabling her to meet the paydown and renew her commercial mortgage.
The Solution
The business owner renewed her commercial mortgage and is working to refinance her primary residence and set up an operating line of credit.
- A second mortgage can quickly provide capital to meet lender demands.
- Private lending offers flexible solutions in tough situations.
- Strategic financing ensures business stability.
Outcome & Key Takeaways
