Loan amount
$170,000
Loan type
As-Is Property Value
$300,000
LTV
57%
{LTV}
Property type
EFU with homesite
Borrower Details
Credit score
666
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Oregon
Loan Details
Additional Loan Information
My partner and I are currently in escrow on a property in Ashland, the escrow closing date is 05/29/20. The property is 30 acres with 11 acres of 1885 water rights and includes septic, a well, and electricity with an approved home site. There is a run down single wide manufactured home built before 1967 on the property. The selling price is $300K, the owner is going to carry $100K, we need to put down $200K as well as pay for closing costs. Currently we have $50K toward the down payment. Ultimately, in the future we will occupy the land as a home, but the land is zoned EFU in Oregon and we plan to build an agricultural business there. A 5-year, or more, loan duration would be best for us.
Status
Closed
Created
May 2, 2020 - 8:47am
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