LOCATION
Heber City, UT
LOAN AMOUNT
$2,730,000
DESCRIPTION
Luxury Spec Home Construction
LOAN TYPE

About this Property

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.

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Other Information

You guys (Enact Partners) are great. You’re very personable and absolutely the type of lender I need. I love how you visit the sites. It provides the best view of the project as a whole and, as you know, each project is unique and doesn’t always fit into the same box.

– Paul S.