Local experienced builder purchased the lot with cash and provided all the horizontal infrastructure out of pocket. The builder has been purchasing lots and successfully building out of pocket in this plat. With rates at historic lows and pent-up demand from new homes, buyers are more motivated to buy new homes. With this continued strengthening in the market for new homes, the borrower turned to Seattle Funding Group to use a little leverage to complete this project and start the next home. SFG is actively funding boutique builders in strong, core locations.
LTV 57%
