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lwams
335 Posts |
 Posted - 01/16/2008 : 11:31:15 AM
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Anyone besides Bismark? they were giving some bull about the homesite being to close to commerical development yet the property is zoned residential. Loan amount requested 400000 appraised value 630,000 ficos 750 plus both borrowers have reserves
anyone? |
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coopercash
2714 Posts |
Posted - 01/16/2008 : 2:47:42 PM
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This MAY be a fit for one of our GC-GOLD Construction financing programs.
Please email me an "Executive Summary" of the project and of the client. Is this a future O/O primary residence... a 2nd home... or a rental property...or a "spec for sale" deal? I also need to know what the actual cost-to-build is.
I have to warn you upfront, that if the residentially zoned property is adjoining a commercially zoned property that OUR appraiser will definitely REDUCE value if the existing appraisal has not adequately adjusted for this proximity.
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