rich6567
10 Posts |
 Posted - 07/28/2008 : 08:53:04 AM
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| I have a builder/developer looking for financing to cover 6 to 12 lots. These are in a luxury neighborhood that’s 85% complete, homes are in the 300-500K range, with amenities in place. HOA has been turned over to subdivision. These lots are appraising for 85K each. Max loan amount possible is around 780K. Prospect has good credit scores. He wants to do all lots in one loan, similar to a blanket, and be able to pay as each lot sells. His current note is coming due in August and he need to do a refinance with a 6-month term note. |
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