Land Holding of Ten Serviced Lots

1st Mortgage Land Holding of Ten Serviced Lots in Yorkton, SK.

Our repeat borrower secured good pricing on ten residential building lots in Yorkton, SK. A quick closing was required to capture this opportunity and due to this tight timeframe, no construction financing could be sought. We provided an inventory loan secured against these lots until the borrower can put together a package to seek construction financing. At that time, we will put forward an offer to finance either spec or presale construction.