Loan amount
$400,000
Loan type
As-Is Property Value
$600,000
LTV
67%
{LTV}
Property type
New Construction Loan Funding- Small Multi-family
Borrower Details
Credit score
720
Deal experience
5 deals
This loan scenario was submitted by a Broker
Property Details
State
Mississippi
Loan Details
Additional Loan Information
3 Projects in 3 phase:
Phase 1: 4 Plex townhouse; rentals in property area can bring $1000 - $1500/ month for young professionals or transient military professionals working in the area. Once constructed, permanent financing will repay construction loan.
Phase 2: 8 Plex units; rentals in property area can bring $1000 - $1200/ month for young professionals and ADA rental needs in the area. Once constructed, permanent financing will repay construction loan.
Phase 3: 6 Plex units; rentals in property area can bring $1000 - $1500/ month for young professionals or transient military professionals working in the area. Once constructed, permanent financing will repay construction loan.
Land is not yet purchased; part of build costs.
Funding for 1st phase.
Estimated value of phase 1: $600,000
Location: Vicksburg, MS
Phase 1: 4 Plex townhouse; rentals in property area can bring $1000 - $1500/ month for young professionals or transient military professionals working in the area. Once constructed, permanent financing will repay construction loan.
Phase 2: 8 Plex units; rentals in property area can bring $1000 - $1200/ month for young professionals and ADA rental needs in the area. Once constructed, permanent financing will repay construction loan.
Phase 3: 6 Plex units; rentals in property area can bring $1000 - $1500/ month for young professionals or transient military professionals working in the area. Once constructed, permanent financing will repay construction loan.
Land is not yet purchased; part of build costs.
Funding for 1st phase.
Estimated value of phase 1: $600,000
Location: Vicksburg, MS
Status
Closed
Created
September 30, 2019 - 1:25pm
Hard Money Lenders Now Offering Real Estate Investor Loans in Mississippi Jackson | Gulfport | Southhaven | Biloxi | Hattiesburg | Olive Branch Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans