Deal features:
- 63% LTV based on current appraisal
- 10.5% return to investors, interest paid monthly
- 9-month loan term, (optional 3-month extension)
- First Deed of Trust/Refinance-Construction
The project consists of approximately 2.5 acres located at the southwest corner of Craig and Riley Streets in the northwestern part of Las Vegas on which the borrower will build four single story homes with a three-car garage. The homes will have between two and half and three and a half bathrooms and three to five bedrooms. The average lot will be approximately 20,000 square feet.
