Loan amount
$900,000
Loan type
Refinance
{Cash-Out}
As-Is Property Value
$1,200,000
LTV
75%
{LTV}
Property type
Single Family
Borrower Details
Credit score
650
Deal experience
2 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Wellington
State
Colorado
Loan Details
Current mortgage balance
$650,000
How much cash-out are you looking for?
$250,000
Additional Loan Information
Our company is seeking a hard money lender to fund the construction of a spec house in Hot Springs, South Dakota. We currently have a property for sale in Colorado, and plan to use the equity from that home as a down payment for the new construction project. The spec house will be a single-family residence, built to modern standards and designed to appeal to a wide range of potential buyers. We have identified a prime location in Hot Springs, which is a growing area with a high demand for new housing. The project will be managed by an experienced contractor and overseen by our team to ensure that it is completed on time and within budget. We are looking for a lender who can provide the necessary funding for the project and work with us to ensure its successful completion.
Status
Open
Created
January 25, 2023 - 4:07pm
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