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Construction Loan Success Story

Insignia Mortgage recently closed on a $11 million spec construction loan in Bel Air, CA with 50% lender loan-to-cost financing. We located a local bank willing to provide construction financing, despite our client’s limited US income. This non-recourse loan was cross-collateralized against the subject property, as well as two other income-producing homes.

Loan Terms

  • $11 million dollar construction loan
  • 2-year term
  • 7.000% APR
  • Interest Only – interest paid only when money drawn
  • No prepayment penalty
  • 21-day close of escrow

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These are the opinions of the author. For financial advice, please talk to your CPA or financial professional.