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philinpdx
637 Posts |
 Posted - 03/27/2008 : 2:27:25 PM
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There is 120 acres in a semi-rual area of Southern Oregon. It is a full doc deal. There are a few structures on the property including a small house that does not have septic. Because there's no septic I imagine that it just needs to be done as a Land Loan.
The best advice I've got so far is to go with a local bank or credit union. I do have one lead so far. If you can do it or have any ideas please let me know. Thanks. |
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EMScommercial
5138 Posts |
Posted - 03/27/2008 : 2:46:48 PM
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Phil.... what is semi rural? what will the exit strategy be on the deal?
Is this a purchase or refinance?
Please let us know if we can help you with your commercial scenario(s) - I'm sure that if there is any financing options for your clients out there, we can find it in our vast internal database of commercial lending sources of which we are direct brokers for (currently stands at 300+ entries as of today (lenders, banks, private money, hedge funds, insurance companies, etc.)).
Eclipse Mortgage Services is the proverbial 'head of the snake'... the end of that broker chain.... next step - the lending source.....
** We issue a mutual NCND to protect both sides!! **
Remember... We only get paid when the thing funds!
Thanks! |
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philinpdx
637 Posts |
Posted - 03/27/2008 : 3:02:56 PM
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Chris, this is a Refi and the LTV is under 65%. The loan amount would be only about $200,000.
When I say "Semi-rual" what I'm referring to is that there are houses so it is basically residential but there many of the homes have 5,10,20 acres plus. Some even have little ranches in the area. So the area is a combo of residential and somewhat small hobby farms as well. |
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