Phoenix, Arizona

Spec Construction Home Loan

$160,000

• DMFI, L.L.C. loan to build a 2,275 square foot two-story, 4 bedroom, 2.5 bath home on a nearly .25 acre lot in the booming South Mountain area
• Borrower owned the lot free & clear
• Lot has received approval with conditions from the City of Phoenix for lot to be divided into two equal nearly .25 acre separate lots
• 12 month loan term for 100% of the construction costs with interest only payments and no prepayment penalty