Builder was funding this spec construction loan out of profits from other projects. A small income interruption caused him to consider using some modest leverage. Seattle Funding Group was able to ascertain value of this riverfront home and fund enough to not only complete construction but to contribute to working capital for the business. An additional free and clear rental property was also used as cross collateral to make the funding easier and provide SFG with more security. Borrower’s ability to complete the home faster will allow him to take advantage of a good market.
LTV approximately 35%
