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Deal Details
Private Loan Type
Residential Ground-Up Construction
Approx. Funding Date
02/01/2023
Property Type
Property City
Pasco
Property State
WA
Loan Term (months)
13
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Completed Value
65%
Construction Project Scope
Vertical
Deal Summary
A Washington state builder who starts 200 homes per year grew frustrated with their current private lender’s ground-up construction offerings. So they decided it was time to form new lending relationship. One of the companies they contacted was Lima One.
Lima One financed 10 projects for this experienced builder, providing a smooth process from quote to underwriting to close. The builder will benefit from Lima One’s in-house construction draw process, and won’t pay interest on any undrawn construction funds. This allows the builder to continue its development in Pasco, Washington with ease and confidence.
Funded By
Lima One Capital
The Nation's Premier Lender for Real Estate Investors