Loan amount
$3,000,000
Loan type
As-Is Property Value
$5,000,000
LTV
60%
{LTV}
Property type
3 Single family subdivision
Borrower Details
Credit score
700
Deal experience
30 deals
This loan scenario was submitted by a Broker
Property Details
State
California
Loan Details
Additional Loan Information
3 subdivided lots estimated $1,000,000 each parcel. Located in Fremont, California.
Construct 3 houses at construction cost $1,000,000 each house
Existing land loan $1,000,000. Site improvement lien $350,000
Require funding for engineering and fees $300,000
Existing subordinating 2nd lien $320,000 that can stay behind
ARV of each house #3,000,000 to be built one at a time
Construct 3 houses at construction cost $1,000,000 each house
Existing land loan $1,000,000. Site improvement lien $350,000
Require funding for engineering and fees $300,000
Existing subordinating 2nd lien $320,000 that can stay behind
ARV of each house #3,000,000 to be built one at a time
Status
Closed
Created
January 4, 2020 - 10:07am
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