Loan Details
| (N/A) | 5/27/16 | Construction - Residential | $140,000.00 USD | 1 year | 50% | 844-742-9900 ext. 710 |
13 Diana Ridge Road, Highland, NY
Construction Loan
13 Diana Ridge Road
Highland, NY
| Property Value | Total First Lien Construction Mortgage |
|---|---|
| $279,000.00 (built on Contract) | $140,000.00 |
Established builder in Ulster County, NY was seeking a more cooperative lending partner for the construction of approximately 3 new homes per year. BLG was able to find an investor who has a good working knowledge of construction. Because of that “connection,” we were able to put together a Construction Draw Schedule that made good sense for both the builder and the the investor.
We are already well into a subsequent loan for the same builder – with the same investor.
