Mortgage lead for Commercial loan in Helendale, CA, 92342

Loan Request for Commercial loan in Helendale, CA, 92342

Request #3738702 by Lender

Date Posted

6/3/2025 10:50:33 AM

Property at

Helendale, CA, 92342, USA Show Map

Borrower at

Property Type

Commercial

Property Value

$6,250,000

Loan Request

$2,700,000

LTV

43.2 %

Credit Rating

680-699

Loan Purpose

Purchase and Construction

Purpose

The client is one of the country's largest CDFI ( Community Development Financial Institution) on behalf of a well-established Indian tribe, who will be purchasing this property. The client is seeking to acquire a 54% LTV - 2.7 million dollar 1st, and the seller will carry back 46% LTV - $2.3 million dollar 2nd. Thankfully, the CDFI already been approved to receive a $6.5 million dollar grant for this property that will be utilized to satisfy all existing liens within 9-12 months of acquisition. The clients have also received a contract through the state of California to pay $1,850 per unit (62 units) for transitional housing upon completion of minor cosmetic upgrades.
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Loan Request for Commercial loan in Helendale, CA, 92342