TWT recently closed on a $2M Inter Alia Mortgage facility in Muskoka in under 1 week.
Our client approached us to purchase land and required 100% financing. Land typically finances around 50-65% loan to value. We cross collateralized another asset to secure the $2M lending facility which included 100% of the land acquisition plus all closing costs.
What further complicated this deal was the quick turnaround time. We had less than one week to go from commitment to funding!
The ability to coordinate appraisals, site inspection, collect all necessary documentation, commit to the file/client and close within a week is super unique.
Photo credit:
Gary J. Wood