Construction Finance No Presales

Purpose of Loan: To provide a construction facility for the development of 7 residential units at Gaythorne

Loan Limit: 1st Mortgage – $1,695,000

LVR: 1st Mortgage – 65% of Total Development Costs ex GST

Loan Term: 12 months

Facility Type: Construction Loan

Interest Rate: 7.05% per annum

Presales: Zero