10 May, 2018
Private Equity Deal of the month

Deal of the Month May 2018: An Incredible Private Equity Deal in Coquitlam BC

Past client who owns a bare land strata in Coquitlam BC needed some extra money to help with living expenses. Client is a senior has limited income but has a common law wife still working and his house was valued at $950,000. Client had a 1st mortgage of $377,000 with a B-Lender but did not have enough income to support a larger 1st mortgage. Added to this there were several years before his 1st mortgage was coming up for renewal and a large penalty if he paid out.

We were able to secure a second mortgage of $215,000 at 8.8% with broker and lender fees of 2%. Client now has the money to have fun go on a holiday and live comfortably for the next few years.

Leave A Reply

Your email address will not be published.