Loan amount
$100,000
Loan type
As-Is Property Value
$250,000
LTV
40%
{LTV}
Property type
Residential development
Borrower Details
Credit score
610
Deal experience
None
This loan scenario was submitted by a Broker
Property Details
State
Oregon
Loan Details
Additional Loan Information
Planned residential development on a hilltop north of Grants Pass. The planned project will include 9 custom homes, with 5 acre lots. The loan would cover the $99.9K property purchase. Construction budget is $250K per home and will take 3-4 years. Funds coming from family investors and property sales. ARV of all 9 homes $6.7M. Already in contract, closing on May 31. 3 year loan duration preferred.
Status
Closed
Created
May 12, 2020 - 12:47pm
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