I have a client that has land in Henderson NV appraised at 1,150,000 and bought it in 2004 for $250,000 and owe $450,000 and they are looking to refinance it. LTV 46% The note ballooned and they need to pay off the current 1st loan for 450,000 asap NO CASH OUT! Fico is 630 and her husbands is 608 mid score. They make $132,000/ yr combined income, have no lates and are on time with payments. Please let me know if you can fund this. Need Hard money!
Is just dirt or has it been plotted/plated/zoned?
Regards,
Scott Miller
In the absense of any response, the OP can expect between 50-60 LTV for dirt deal requiring no entitlement or development…
Regards,
Scott Miller