Can someone do this 8 million dollar commercial!?!.

[FHA-Broker]

Hey Guys, its my first post here and im looking for someone who can do this deal:

I have a borrower looking for an 8 million dollar first (5.6 to pay off first, 2.4 cash out) on a 21 million dollar appraised value in Lake County, Florida. I do not have the specific numbers but their is something like 55 town homes, 343 town homes, 44 condos, and 52 single famile residences, 22 lakefront, 30 lake view.

The borrower has a chapter 11 bankruptcy but has agreed to put 1 year into escrows. Borrower has also agreed to 15% interest and 7 points.

$560,000 deal. Can anyone help me?

[SBF Funding]

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[Joshholiday]

please contact me about this deal

thanks

[DCM]

I have a lender that would do the following:

50% LTV
13% to 15% interest only no prepayment penalty (based on clients strength)
4 lender points
3 broker points that we would split
Lender will charge about $16,000.00 for new appraisal, EDR and Phase I if needed, and a site visit. Any unused funds credited back at closing. This is paid to the lender, not to a broker.

Just be aware this is a Hard Money Land Loan so the lenders appraised value will be of the 120 day quick sale value.

dcmmtg@gmail.com if you want to talk.

BTW yes I'm new here, just came across the forum today. I am a Commercial only broker who has specialized in land loans for 11 years.

[to.gregorycliff]

Black Horse provides finance of different kinds for thousands of customers every year worldwide.We are authorised and regulated by the Financial Service Authority For Insurance Mediation with FSA number:313409 and also a member of the Finance & Leasing Association and complies with its Lending Code.Email:to.gregorycliff@gmail.com

[changemyrate]

Originally Posted by FHA-Broker

Hey Guys, its my first post here and im looking for someone who can do this deal:

I have a borrower looking for an 8 million dollar first (5.6 to pay off first, 2.4 cash out) on a 21 million dollar appraised value in Lake County, Florida. I do not have the specific numbers but their is something like 55 town homes, 343 town homes, 44 condos, and 52 single famile residences, 22 lakefront, 30 lake view.

The borrower has a chapter 11 bankruptcy but has agreed to put 1 year into escrows. Borrower has also agreed to 15% interest and 7 points.

$560,000 deal. Can anyone help me?

• Nationwide and International lending (case by case)
• 48 hour review of your loan package
• Loan size: $250,000 - $10,000,000
• Loans in excess of 10M are reviewed and funded on a case by case basis
• Rates as low as 6.99% per annum
• Loan Origination Points: 3% - 5% (may vary depending on property and/or loan size)
• Loan Term: 12 - 48 months (extensions available)
• Maximum Loan-to-Value: 70%
• We offer 1st and 2nd mortgages/deeds of trust
• Interest only or Interest Reserves
• No prepay penalty options.
• Joint Venture Projects

Jackie A Graves
Changemyrate.com - Since 1989
1-877-988-7700
jackie.graves@changemyrate.com
Jumbo Loans | Mortgage Calculator | Refinance | Home Equity Lines of Credit - Changemyrate.com - since 1989

[omegafund]

Contact us to discuss the deal.
Regards
Patrick
Omega Funding, Inc
Business Loans, Invoice Factoring, Private Equity Financing - Omega Funding, Inc
720-279-4345

[drgurney]

If you don't mind I would like to take a look at your propsal. When you get an opportunity email me the details at dg1stccc@aol.com. I also can be reached at (888) 316-1787 and my website is www.1stcoatal.com.

Thanks,

Don