fundings
fundings
Funded Amount: $600,000
Type: Land
Lender: Private
Location: Delta, BC
Loan-to-Value (LTV): 75%
securing 2nd mortgage for project
With the second mortgage in place, the project moved forward, hitting key milestones and staying on track.
- A second mortgage can resolve urgent financial hurdles.
- Creative financing keeps projects on schedule
- Securing timely funding ensures progress.
Outcome & Key Takeaways
A client needed a $1,000,000 second mortgage to avoid project delays. The current lender refused to renew and demanded upfront interest payments for the year, jeopardizing progress. Without the funds to pay the upfront interest, the project couldn’t move forward, delaying the third reading and presales.
The Problem
We arranged a $1,000,000 second mortgage, covering the interest payment and providing capital to push the project past the third reading and begin presales.
The Solution
Funded Amount: $600,000
Type: Land
Lender: Private
Location: Delta, BC
Loan-to-Value (LTV): 75%
securing 2nd mortgage for project
A client needed a $1,000,000 second mortgage to avoid project delays. The current lender refused to renew and demanded upfront interest payments for the year, jeopardizing progress. Without the funds to pay the upfront interest, the project couldn’t move forward, delaying the third reading and presales.
The Problem
We arranged a $1,000,000 second mortgage, covering the interest payment and providing capital to push the project past the third reading and begin presales.
The Solution
With the second mortgage in place, the project moved forward, hitting key milestones and staying on track.
- A second mortgage can resolve urgent financial hurdles.
- Creative financing keeps projects on schedule
- Securing timely funding ensures progress.
Outcome & Key Takeaways
