Mortgage lead for Commercial loan in La Marque, TX, 77568

Date Posted

8/5/2025 12:34:44 PM

Property at

La Marque, TX, 77568, USA Show Map

Borrower at

Property Type

Commercial

Property Value

$6,100,000

Amount of Existing Loans

$3,200,000

Loan Request

$4,300,000

LTV

70.49 %

Credit Rating

720-739

Loan Purpose

Refinance and Construction

Purpose

cenario Overview:

Purchase Date: September 2023

Purchase Price: $2.4M

Total Mortgage (including closing costs): $2.6M

Current Status: Under construction

Estimated ARV: $6.2M (appraisal completed in March)

As-Is Value: $4.8M

Lien Position: First position lien

🏢 Project Details:

Total of 5 buildings, each two stories

2 buildings closest to the street: 41 units total

3 additional buildings: 8 units each

Two construction crews are ready to finish the first two buildings within about 30 days.

The remaining three buildings will be completed after the first two are done to start generating cash flow.

🔑 Borrower Information:

Managing Members: Amin and Richard (both will be on the lien)

Funding Needed: $1.2M to complete construction

All-In Amount: $3.8M (including closing costs to be rolled in)

✅ Answers to Previous Questions:
1️⃣ Experience:

Amin and Richard have successfully closed multiple similar projects within the past three years, including:

Sale of multifamily and mixed-use properties in Houston

Colorado multifamily and condo project

Several retail/hospitality sites and office properties

They can provide documentation for each project, including HUD or Settlement Statements.

2️⃣ Previous Funding:

The original budget covered a 64-unit “turn” with plumbing, electrical updates, window & door package, flooring, cabinets, and fixtures.

The City later required a far more extensive remodel — resulting in a full rebuild of all units down to the studs.

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Loan Request for Commercial loan in La Marque, TX, 77568