Mortgage lead for Land loan in Sherman, TX, 75020

Loan Request for Land loan in Sherman, TX, 75020

Request #3718376 by Lender

Date Posted

3/12/2025 11:07:48 PM

Property at

Sherman, TX, 75020, USA Show Map

Borrower at

Property Type

Land

Property Value

$7,500,000

Amount of Existing Loans

$1,000,000

Loan Request

$2,500,000

LTV

33.33 %

Credit Rating

720-739

Net Worth

$500,000 - $1,000,000

Loan Purpose

Refinance all

Purpose

Direct Lenders Only Please - No Brokers

The subject is a 67.870-acre tract of land on the north side of SH-56, east of Mitchell Road, in the City of Sherman, Grayson County, Texas. The current owner has initiated development of the land into a 317-lot single-family residential subdivision known as Lake Wind Heaven. The lots, which still require final approvals by the City of Sherman and Grayson County, will range from 4,000 to 6,060 square feet; the average lot size will be 4,138 square feet. Typical front footage will be 40 feet.

The proposed lots are under contract to builder for $24,092,000, equal to $76,000 per lot.

I have the following items to present:

-Appraisal from 12/24
-Preliminary Site plan
-ALTA Survey
-Phase I
-TOPO Survey
-Bio of the developer / property owner

I look forward to hearing from you.

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Loan Request for Land loan in Sherman, TX, 75020