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Wildewinds

45 Posts
Posted - 02/14/2008 :  11:38:16 AM
I have a client that wants to get money from a property where he is currently constructing an SFR.

He owns the land free and clear and construction should be done by late March (framing is done). However, he wants the money now for a commercial property he's purchasing.

The value of the new house should be approx. $600,000. He wants at least $100,000 cash. He purchased the land for $190,000 in 2005.

He has a 676 credit score and owns seven properties. He's self-employed and we would have to go stated income.

So, would hard money lenders or construction lenders touch this? Any recommendations?
privatecash

1424 Posts
Posted - 02/14/2008 :  11:52:58 AM
We have an investor who will do this. Email details for pricing.
mganovsky

1415 Posts
Posted - 02/14/2008 :  12:24:57 PM
Try Yale Mortgage
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