Bridge Loan
- Loan Amount $994,500
- LTV 90%
- Interest Rate 10%
- Queens, NY
A loan of $994,500 has been secured with a 90% Loan to Value (LTV) ratio, indicating that the loan amount represents 90% of the property’s assessed value. This implies that the property, located in Queens, NY, has a total value of approximately $1,105,000. The loan carries an interest rate of 10%. Such a high LTV ratio suggests that the borrower is leveraging a significant portion of the property’s value, and the interest rate reflects the associated risk. This type of loan is often utilized for real estate investments or acquisitions, where immediate access to funds is crucial.
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