Loan amount
$24,000,000
Loan type
Refinance
{Construction}
After Repair Value
$40,000,000
ARV
60%
{ARV}
Property type
Vacant Land
Borrower Details
Credit score
850
Deal experience
100 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Allen
State
Texas
Loan Details
Current mortgage balance
$8,000,000
Cost of improvements
$16,000,000
Estimated property value after repairs
$40,000,000
Additional Loan Information
Client has a bridge term that is up March 1
At 8m Client seeks a new bridge for 16m to client has completed 90percent of entitlement and needs new bridge to shovel ready Jan 2025
New bridge can have phase 1 of 30 out of 150 higher end homes being built. Call to discuss further
At 8m Client seeks a new bridge for 16m to client has completed 90percent of entitlement and needs new bridge to shovel ready Jan 2025
New bridge can have phase 1 of 30 out of 150 higher end homes being built. Call to discuss further
Status
Closed
Created
February 21, 2024 - 10:09pm
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