The borrower purchased an existing bungalow on a 54 X 126 lot. The bungalow was demolished and the borrower then built a 3,400 square foot luxury two-storey, single-family dwelling.
Loan Type:
Acquisition and Single-Family Residential Construction Financing
Loan Amount:
$944,000
Loan Description:
Foremost financed 75% LTV of the acquisition price, plus 100% of the hard construction costs.