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Deal Details
Private Loan Type
Residential Ground-Up Construction
Approx. Funding Date
08/01/2019
Property Type
Single Family Residence
Property City
Santa Barbara
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Deal Summary
Reprop Financial, a private money lender, provided a $500,000 construction loan in Santa Barbara, California for an ocean-view lot that came with building plans which still need final approval. Construction financing was discussed but it was too early in the process to provide purchase money financing as well as construction financing. Finalized plans were awaiting approval, after which our borrower began construction. This construction loan was funded in August 2019.
Funded By
ReProp Financial
Private Money for Real Estate Investors Since 1978