Loan amount
$8,500,000
Loan type
As-Is Property Value
$13,200,000
LTV
65%
{LTV}
Property type
Residential development
Borrower Details
Credit score
700
Deal experience
20 deals
This loan scenario was submitted by a Broker
Property Details
State
California
Loan Details
Additional Loan Information
New homes to be built and then rented. 45 homes completed that are worth $300K each; $13.2M. Require funding based on a completed house. This loan is a take out loan and has nothing to do with construction. Home construction will be completed 6 months from now. Trying to establish interest at this moment. Up to 70% LTV. Property close to Victorville in Apple Valley CA. I am a broker representing my client.
Status
Closed
Created
July 2, 2020 - 8:41am
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