$1,250,000 Land Development Project in Renton, WA

An experienced land developer contacted Mortgage Equities Inc. requesting a construction loan to build the infrastructure for a 17 lot sub division in Renton, WA. Mortgage Equities provided $1.25 M for the project based on a 45% LTV upon completion.

UPDATE: The Borrower has now completed the short plat and final approval is in process. A home builder has the lots under contract.