Loan amount
$750,000
Loan type
As-Is Property Value
$1,600,000
LTV
47%
{LTV}
Property type
Residential development
Borrower Details
Credit score
500
Deal experience
25 deals
This loan scenario was submitted by a Broker
Property Details
State
Idaho
Loan Details
Additional Loan Information
Have a 5 acre property that is annexed and subdivided. I need $500K for acquisition and $250K for improvements to the road and for the civil engineering. The property is the last 5 piece to be developed and is currently in contract for $300K less then the assessment value. Timeline of 12 months. Value after improvements will be around $1.6M. Property located in Post Falls, Idaho. I plan to subdivide, develop then sell. Prefer 24 month loan duration.
Status
Closed
Created
July 27, 2020 - 8:31am
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