Seattle Funding Group closed this $1,850,000 single family residential construction loan in Rancho Mirage, CA.
This repeat borrower returned for construction financing on their newest residential project, a terrific spec SFR in an upscale, gated community in the Clancy Lane neighborhood of Rancho Mirage. The 5,170 s.f. spec was well-designed for desert living, with 4 BR and 4.5 BA, an ADU, a 3-car garage, and the requisite South-facing, view-oriented backyard with pool and spa. The leverage was low at 55% ACV, and combined with heavily invested, experienced sponsorship, it was right over the plate for Seattle Funding Group’s durable lending model.
