Loan amount
$900,000
Loan type
Purchase
{Construction}
After Repair Value
$1,999,998
{PP:$299,998}
ARV
45%
{ARV}
Property type
Vacant Land
Borrower Details
Credit score
680
Deal experience
6 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Mayaguez
State
Florida
Loan Details
Purchase price
$299,998
Down payment
$100,000
Cost of improvements
$700,000
Estimated property value after repairs
$1,999,998
Additional Loan Information
the development is in Puerto Rico - Mayaguez College Town
Raw Land - to build 60 student dorms
land cost 300,000
total improvements 700,000
total loan 1,000,000
Down Payment 100,000 (10%)
the developer intends to keep the 60 units for rental
loan payback in 4 years
interest rate to be negotiated
first mortgage to the lender
Raw Land - to build 60 student dorms
land cost 300,000
total improvements 700,000
total loan 1,000,000
Down Payment 100,000 (10%)
the developer intends to keep the 60 units for rental
loan payback in 4 years
interest rate to be negotiated
first mortgage to the lender
Status
Open
Created
April 11, 2021 - 12:50pm
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