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Updated almost 5 years ago on . Most recent reply

John Cameron's profile image
John Cameron's profile image
John Cameron
  • Investor
  • from Seattle, WA
  • Member since Oct 1, 2012
Connect

User Stats

39
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8
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John Cameron's profile image
John Cameron's profile image
John Cameron
  • Investor
  • from Seattle, WA
  • Member since Oct 1, 2012
Connect
John Cameron
  • Investor
  • Seattle, WA
8
Votes |
39
Posts
Private Lending & Conventional Mortgage Advice

Manufactured Home Construction FInancing - WA State

John Cameron
  • Investor
  • Seattle, WA
Posted

I have a small builder who is very experienced with Manu Home and Land Development.  Up until now he has been using and equity share partner who is taking 60% of net.  I told him that is probably WAY too much.

He is looking to borrow construction $200K for his project. He owns the land. The best we've been quoted is 80%LTV including land value, 4points and 12%/yr.

Can anyone do better?

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