Bank Funding – Construction Loan (Builder/Developer) – No Presales

Purpose of Loan: To provide a construction facility with no presales via a main stream bank

Loan Limit: 1st Mortgage – $2,100,000

LVR:  1st Mortgage – 75% of Total Development Costs excluding GST

Loan Term: 12 months

Facility Type: Construction Loan

Interest Rate: 4.25% per annum

Presales: Nil