Missouri - Hard Money - Emergency Housing
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  1. #1
    Senior Member Reputation points: 1232
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    Jan 2017
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    Missouri - Hard Money - Emergency Housing

    State: Missouri
    Loan Type: Straight-Refi / No Cash Out
    Loan Amount: 375,000
    Property Value: Appraised at 600k when it was a vacant SFR. Now it's being used commercially.
    Property Type: 10 Bedroom SFR being used as Emergency Housing contracted with the City
    Balance: 354,000
    Loan Amount Needed: 375,000
    Credit: 680+
    LTV: 62%

    Will take a 3 year + fixed. Various lenders declined for property type.

    It's a SFR converted to commercial use but is also zoned multi-family. <-- this blend has been problematic for appraisers.

    Suggestions?

  2. #2
    Good morning. What are the estimated deposits for the borrowing entity. Assuming the cash flow is there, this could fit well within my wheelhouse. 212-220-0175. Thanks,
    Rob

  3. #3
    contact me i believe i can get this deal done!

  4. #4
    Banned Reputation points: 10
    Join Date
    Jul 2018
    Posts
    18

    We could get him some lines of credit $250k is our max. We can get anyone funded just a matter of what is on there Credit Report.

    We specialize in credit correction as well shoot me an email.

    James Williams
    Jw@havicpeters.com
    Havicpeters.com

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