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rellis
43 Posts |
 Posted - 05/16/2008 : 2:42:02 PM
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STRONG borrower (besides stated income); 53% LTV (appraised for $7,500,000) has $500,000 in reserves, self employed 7 years.
Customer bought lot couple of years ago, put $450k down when purchased, bank that was providing the funding for the development ran out of $$$.
Need construction loan, customer ready to build!!!
Thanks - Rob |
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eosnit
11 Posts |
Posted - 05/16/2008 : 2:47:05 PM
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does principal own the land?
if so, i can help
smorrison@algorlando.com |
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rellis
43 Posts |
Posted - 05/16/2008 : 3:16:03 PM
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| Yes, bought land 1 year ago for $1.7 put $450k down when purchased. Recently appraised for $2.0 mill |
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