property type: Residential
Total Property Value: $1,320,000
Loan Amount: $825,000
Priority: 1st mortgage
LVR: 62.50%
Note Interest Rate: 9.720% p.a.
Term (Months): 12
Term Remaining (Months): 1
Postcode: 4610
Use of Funds: To complete civil works on new development
Minimum Investment Amount: For more details click here to set up an account
Why do we like this loan?
This applicant offers three securities, his home, an investment property and a 10 lot subdivision with two presales which he will complete within 6 months. He operates a separate business demonstrating a 6 X interest coverage in monthly net cash-flows..
Primary Property Value: $400,000
Property Details
4 bedroom house on battle-axe block, featuring open plan living, dining and kitchen area, rumpus room and other features throughout. Located in Kingaroy, an established rural township 200kms north-west of Brisbane. The property has access to local services and facilities.
Loan Details
This loan is secured against three properties, two residential and a 10-lot subdision with 2 presales. The loan LVR is based on current and not future property values, providing upside value for the development site as the project progresses.
