Loan amount
$2,300,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$3,000,000
{PP:$2,800,000}
LTV
77%
{LTV}
Property type
Industrial/Warehouse
Borrower Details
Credit score
780
Deal experience
10 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Scottsdale
State
Arizona
Loan Details
Purchase price
$2,800,000
Down payment
$500,000
Additional Loan Information
We are qualified to finance with First Citizen's Bank but escrow is supposed to close on January 3rd, and First Citizen's needs more time to process our loan. The seller will not extend additional time for escrow. This purchase was originally supposed to be a seller finance deal, but seller is an inexperienced investor and got cold feet regarding seller financing despite credit scores over 750 and enough cash to purchase the building for cash.
Status
Open
Created
December 17, 2021 - 5:58pm
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