Loan amount
$775,000
Loan type
Purchase {Construction}
Property value
$3,250,000 {PP:$1,350,000}
ARV
24% {ARV}
Property type
Vacant Land
Credit score
760
Deal experience
20 deals
This loan scenario was submitted by a Broker
Yes
City
Fairview
State
Tennessee
Purchase price
$1,350,000
Down payment
$675,000
Cost of improvements
$100,000
Estimated property value after repairs
$3,250,000
Additional Loan Information
Currently, the property is a 16-acre parcel that sits in the city of Fairview Tenn - the borrower plans to rezone the property for single family and multifamily use, he is going to subdivide the property into 41 lots, A national builder called Meritage Homes of Tennessee Inc has offered to buy all 41 lots at $80,000 per lot - they plan to build on it in the near future. My client has a fully executed purchase contract already - I can send a copy of that.
Status
Created
August 7, 2025 - 7:21pm

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