I am a investor from ontario, canada.
I am looking for a lender that will lend on a new development east of toronto, I am looking a about 2.5 mil. My partner owns the land and is surveyed for 36 town houses. We are dealing with a credit score of around 780-800 depending on the credit card balances… any takers at around 10%, the lower the better, but u know how things go…the property does have 3 small mortgages against it (but remeber that my partner aquired this land buy forclosing, a mortgage that he was holding on this property) mortgages in total are 380k I think, the property apraises around 1.8 mil…
Any takers???.. Thanx
What percentage of total cost are you seeking?