- Loan Amount: $1,096,119
- Interest Rate: 9.9%
- Loan Term: 12 Months
- Property Type: Construction
- Loan Type: Single Family Construction
Our borrower has worked with us before when seeking a construction loan, and they know exactly what they are doing when it comes to developing new homes, and has a proven product known to sell well. On this construction loan, we took a look into a new home that will be the Arcadia area, with a view of the Camelback Mountains.
Looking at the plans, it is easy to see that this will be a gorgeous new home build. The home will offer a slightly modernized look into the neighborhood, and will be a welcomed addition to the beautiful homes along the street.
Getting a construction loan can be difficult sometimes, but having worked with us previously, our borrower knows that we make it a little easier to start construction on a new home. With our quick and easy process, borrowers looking to close a construction loan can be financed and have loan draws set aside as needed.
We are excited to see the final product, and anticipate the next construction project our borrower brings to us to look at.