37 Units – 30% Debt Cover

Purpose of Loan: To provide a construction facility for the development of 37 residential units at Deception Bay

Loan Limit: 1st Mortgage – $7,110,000

LVR: 1st Mortgage – 80% of Total Development Costs ex GST

Loan Term: 15 months

Facility Type: Construction Loan

Interest Rate: 11.95% per annum + 1.00% Line Fee

Presales: 30% of debt cover