Loan amount
$150,000
Loan type
As-Is Property Value
$350,000
LTV
43%
{LTV}
Property type
Retail
Borrower Details
Credit score
650
Deal experience
3 deals
This loan scenario was submitted by a Broker
Property Details
State
Washington
Loan Details
Additional Loan Information
I am in a lease to purchase an established mountain resort. I need $150,000 start up money. Restaurant, convenience store/gas, lounge, 8 room lodge and 7 cabin rentals. It's a graduating lease to purchase property at 5 years. The resort is located in Naches WA. The purchase price will be $1.2-1.3 million. We will get a loan to buy out after 3 years in business. The property is worth $1.7M. Loan duration of 3-5 years or until I can refinance my house. Will put up my house that I occupy as collateral. Currently worth $360K with a mortgage balance of $210K; also located in Naches WA. Also have $50K liquid.
Status
Closed
Created
October 15, 2019 - 3:30pm
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