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Updated over 7 years ago on . Most recent reply

David Weintraub's profile image
David Weintraub's profile image
David Weintraub
  • Lender
  • from Berkeley, CA
  • Member since Apr 5, 2017
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David Weintraub's profile image
David Weintraub's profile image
David Weintraub
  • Lender
  • from Berkeley, CA
  • Member since Apr 5, 2017
Connect
David Weintraub
  • Lender
  • Berkeley, CA
548
Votes |
1,083
Posts
Private Lending & Conventional Mortgage Advice

Construction Lender Needed

David Weintraub
  • Lender
  • Berkeley, CA
Posted

Borrower is looking for $3Mil loan for construction.  They have experience with new construction.  Building 2 new homes on a 6 acre plot in Westchester NY that is being subdivided to two.  

Acquisition for land is $1.5MM

Both houses 6000 s/f, with a listing price of $3.3MM and $2.8MM

60% LTV.

Term of loan is 24 months.

They're not looking to pay north of 9.9% for a loan.

If you think this is in your wheelhouse, email me.

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