Loan amount
$350,000
Loan type
As-Is Property Value
$500,000
LTV
70%
{LTV}
Property type
Single family home
Borrower Details
Credit score
660
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Arizona
Loan Details
Additional Loan Information
I'm looking into doing a new build for a spec house to sell. I know a couple of people doing new builds and it's costing them about $75/sqft. I'm looking at half acre lots in Estrella Mountain Ranch. They are going for around $60,000. Excavation is about $25,000. Permit is about $20,000. Association is $5,000. If building on half acre you need to build 2500 square feet which is about $187,500. Estimated after-construction value of $500K. I have a couple of lots I’m looking at - I’m not in contract yet. Loan term would be 12 months.
Status
Closed
Created
October 21, 2019 - 7:59am
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