Mortgage lead for Land loan in Covina, CA, 91724

Loan Request for Land loan in Covina, CA, 91724

Request #3691523 by Lender

Date Posted

9/4/2019 9:21:33 PM

Property at

Covina, CA, 91724, USA Show Map

Borrower at

Covina, CA, 91724, USA Show Map

Property Type

Land

Property Value

$450,000

Loan Request

$150,000

LTV

33 %

Credit Rating

700-719

Net Worth

Unavailable for disclosure

Loan Purpose

Property Purchase

Purpose

I am currently looking for a 100-155k land loan with down payment of 5-10%. Property address is 2374 Cameron Ave, Covina CA 91724 and parcel APN is 8277-029-031. The lot is currently scheduled to go for auction and I am working with the owner to acquire the land beforehand.I am currently working with an architect and at this time and we are in the concept design phase, but should be wrapping this up in approx. 1-2 months. Once this is done I will submit for plan check and permitting, followed by acquiring a construction loan. Once construction is completed I will acquire a traditional 15-30 year mortgage to pay off the land and construction loans.The total estimate for the project would 400-500k

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Loan Request for Land loan in Covina, CA, 91724