Mortgage lead for Land loan in Colfax, CA, 96105

Loan Request for Land loan in Colfax, CA, 96105

Request #3691515 by Lender

Date Posted

9/3/2019 10:31:33 AM

Property at

Colfax, CA, 96105, USA Show Map

Borrower at

Rancho Cordova, CA, 95670, USA Show Map

Property Type

Land

Property Value

$100,000

Purchase Price

$89,000

Loan Request

$50,000

LTV

50 %

Credit Rating

550-579

Net Worth

$40,000 - $70,000

Loan Purpose

Property Purchase

Purpose

Hello, I would like to purchase 10 acres of vacant land listed at $89,000 with the Owner willing to carry with a 25% down payment of $22,250. The loan I am requesting is $50,000 so that I can realistically purchase the land and have the necessary funds to be able to improve upon/develop the land so that it is suitable to be my primary residence. Big expenses I foresee purchasing to improve the land would be on items like a septic tank, solar panels, well installation, and eventuallg a prefabricated home. I plan to use this land to grow and sell produce as well as animal products. In my professional life I am an award winning coffee roaster and have been in the industry for 14 years. On this property I hope to build my own business of roasting and selling coffee to further generate income. This is my life dream and I would love to start it now at 31 while I still have the energy rather than when I'm old. I would accept a loan of less than what I am asking as long as it's enough to purchase the vacant land. Thank you so much.

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Loan Request for Land loan in Colfax, CA, 96105