Case Study

Mid-Construction Second Mortgage Takeout Financing

Loan Details

Loan Amount:  $800,000

Loan-To-Value: 40% Combined Loan-To-Value (CLTV)

Rate:  10.00%

Term:  12-Month

Situation & Challenge

A home builder in California, with several ground-up projects in progress, wanted access to an additional $800,000 for this project, which was a few months from completion.

Mid-construction second mortgages aren’t something a person can find doing a Google search.  You, or your trusted private money mortgage broker “need to know a guy” who would fund a loan that regular hard money and private money funds wouldn’t touch.

Solution & Result

At FCTD, we know a few of “those guys” who are local trust deed investors that can get comfortable with the situation. An $800,000 mid-construction private money takeout loan funded in less than 10 days.  

Do you have a similar financing scenario?
Inquire about your financing options with FCTD.