25 Unit Development

Purpose of Loan: To provide a construction facility for the development of 25 residential units

Loan Limit: 1st Mortgage – $6,385,000

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

Loan Term: 15 months

Facility Type: Construction Loan

Interest Rate: Bank bills + 2.00% per annum

Presales: 75% of debt cover