Loan amount
$2,600,000
Loan type
As-Is Property Value
$3,500,000
LTV
75%
{LTV}
Property type
Residential development
Borrower Details
Credit score
850
Deal experience
40 deals
This loan scenario was submitted by a Broker
Property Details
State
Alabama
Loan Details
Additional Loan Information
Acquisition & construction of 7 SFR to be sold. 25 plus years of experience, 850 fico, net worth of 5 Million. Purchase price of land $300K. $2.3M construction budget. Will take 12 months to complete. Post-construction value $3.5M. Already in contract. Property located in Gulf Shores, AL. 1 year loan duration. I am a broker representing my client.
Status
Closed
Created
May 29, 2020 - 10:24am
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