1.2MIL COMMERCIAL FUNDS NEEDED(OHIO)

General Real Estate Investing
1

ANYONE KNOW THE BEST(HIGHEST)%LTV LENDER FOR A NEW CONSTRUCTION LOAN FOR A CHURCH?
YOUR INPUT IS GREATLY APPRECIATED!!! :slight_smile:

2

Try posting on www.c-loans.com.

Just post your scenario and you will get several offers.

3

Where are you located?

4

WE ARE LOCATED IN NORTHEAST OHIO, THIS WILL BE A NEW CONSTRUCTION LOAN…THE LAND HAS BEEN PURCHASED…WE NEED MORE THAN THE TYPICAL %75 LTV.

5

Did you try the c-loans link I posted yesterday? They are usually very good at following up with you.

By the way, I am in NE Ohio, also. Howdy neighbor 8)

6

What LTV are you looking for?

7

HELLO,
I’M LOOKING FOR AT LEAST 80% OR BETTER LTV.

MDHAAS, I DID LOOK AT C-LOANS. I DIDN’T CONTACT ANYONE THOUGH. THEIR WEBSITE DIDN’T GIVE THE INFO I WAS LOOKING FOR.
LOCATION (MINE) IS AKRON. THIS PROJECT IS DOWN TOWARDS CANTON.

8

Do you have supportive properties or collateral to go with the loan. Usually during the construction period this is required by lenders. After construction is completed permanent financing is sought.

You do have 20% to infuse?

9

COMMERCIAL,
THIS IS FOR A CHURCH…THE ONE I ATTEND…THE PASTOR ASKED IF I COULD CHECK INTO GETTING A HIGHER LTV THAN THEY WERE ALREADY GIVEN…(BY A BANK…FIRST MERIT…I THINK)
THE LAND WAS ALREADY PURCHASED…I DON’T KNOW IF THAT COULD BE USED AS COLLATERAL OR NOT.
THEY WERE APPROVED(INCOME) BASED ON THE OFFERINGS FROM THE PAST SO MANY MONTHS OF THE CHURCH MEMBERS.
THEY ARE JUST TRYING TO GET THE BEST DEAL POSSIBLE(OF COURSE).
IF THEY CAN GET 80% OR BETTER… THEY CAN BUILD A BIGGER AND BETTER FACILITY.