Construction Loans - Loan Officer Forum

#1 (permalink)

04-07-2007, 12:03 AM

shinauldc

Junior Member

Join Date: Apr 2007

Location: Sacramento

Posts: 3

shinauldc is an unknown quantity at this point

Construction Loans

I'm establishing a relationship with a Contractor that ownes land in FL. He is looking for a Purchase/Construction Loan for Buyers. N/O/O and 2nd Homes. FICO's are 680 and above. SIVA. 6 months PITI. Appraised value at completion is $270k. Loan amount is $160k. CLTV desired is 80%. I'm new to Construction loans so please be gentle with the "Internet Tough Talk."

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