Updated almost 8 years ago on . Most recent reply
Construction Lender Needed
Borrower is looking for $3Mil loan for construction. They have experience with new construction. Building 2 new homes on a 6 acre plot in Westchester NY that is being subdivided to two.
Acquisition for land is $1.5MM
Both houses 6000 s/f, with a listing price of $3.3MM and $2.8MM
60% LTV.
Term of loan is 24 months.
They're not looking to pay north of 9.9% for a loan.
If you think this is in your wheelhouse, email me.