demjac12
Sep 23 2006, 02:38 AM
This would be my first condo development project and i dont know where to start for the loan, its going to cost abot 1.1 million to get the project completed and generate about 1.7 gross sales i need to know how much will i need to put in to get the deal funded
LeaW
Sep 23 2006, 07:30 AM
Hello,
My lenders can do 90% on this type of deal: maybe 100%, but either way strong credit is a must.
Commercial LO
Sep 25 2006, 03:39 PM
The amount down wil be determined in large par by the borrowers personal financial sstrength and pre-sales. You can get as high as 100% LTC not to exceed 75% LTV of the completed project with firm pre-sales 1:1 on the cost.
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