Mortgage lead for Land loan in Van Alstyne, TX 7549, TX, 75409

Loan Request for Land loan in Van Alstyne, TX 7549, TX, 75409

Request #3691336 by Lender

Date Posted

7/11/2019 4:29:23 AM

Property at

Van Alstyne, TX 7549, TX, 75409, USA Show Map

Borrower at

Richardson, TX, 75080, USA Show Map

Property Type

Land

Property Value

$1,600,000

Loan Request

$200,000

LTV

12 %

Credit Rating

700-719

Net Worth

$500,000 - $1,000,000

Loan Purpose

Property Purchase

Purpose

I'm purchasing 90 acres of Land southwest of Van Alstyne, TX 75495(2.3 miles from Highway 75, 17 miles north of McKinney, TX)) I want to put my 49.5 acres of land between Anna and Van Alstyne, TX that I own free and clear, up as collateral. Or a land equity loan. I'm looking for a 5 or 10 year loan amortized over 30 years, while I sell the land in 5 and 6 acre tracts. I've already sold 4 tracts of the current property that I own. The last 6 acre tract sold for $204,000/ $34,000/acre. I want to wait on selling anymore tracts untill I've owned the property for one year, to take advantage of long term capitital gains tax.

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Loan Request for Land loan in Van Alstyne, TX 7549, TX, 75409