About this Property in Heber City, UT

Enact Partners provided financing to construct a speculative single-family residence in an affluent, gated community in Heber City, UT (near Park City). The borrower requested a competitive rate and term construction loan of $2.507MM to cover the construction costs of the property. Real estate comps reflect $5.1MM as a reasonable value at completion, reflecting a 49% LTV. Borrower is an experienced builder with over 20+ years in the construction industry. Homes in this area are selling quickly. Most buyers are from out-of-state and paying cash.