$250,000 “Spec Home” Funding on Bainbridge Island, Washington

The Borrower had his own resources to partially construct a 2262 sq ft home on a secluded lot with a private drive, gentle slope, and a nice territorial view. It was his intention to secure a loan commitment that would fund the completion of the project after he exhausted his own funds. Mortgage Equities Inc. agreed to the request and funded the project after the foundation, septic system, and framing were completed.

The Borrower has an established career in the Real Estate Industry including experience in new home construction. We were pleased to commit to a private loan and “partner” with the Borrower to move the project to completion.