Loan amount
$236,000
Loan type
As-Is Property Value
$315,000
LTV
75%
{LTV}
Property type
Commercial / Office
Borrower Details
Credit score
810
Deal experience
5 deals
This loan scenario was submitted by a Broker
Property Details
State
New Mexico
Loan Details
Additional Loan Information
Purchasing a building with an existing Dental Office + 1/3 vacant office space. My long-time partner owns the dental practice and wishes to expand into the other 1/3, but we don't wish to build out a building we don't own, that sits on leased land. We have agreements with the landholder and leaseholder to buy out the lease (outside of this loan), and own the land and building for $315k. I'm seeking to put 25% down on that amount and get financed on the remainder. Property located in Albuquerque, New Mexico. Prefer 15 year term.
Status
Closed
Created
January 28, 2020 - 12:54pm
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