Mortgage lead for Residential loan in Woodinville, WA, 98077

Loan Request for Residential loan in Woodinville, WA, 98077

Request #3752915 by Lender

Date Posted

8/19/2025 6:21:50 PM

Property at

Woodinville, WA, 98077, USA Show Map

Borrower at

Property Type

Residential

Property Value

$5,800,000

Amount of Existing Loans

$2,353,500

Loan Request

$400,000

LTV

47.47 %

Credit Rating

600-619

Loan Purpose

Second, Third or HELOC

Purpose

A business loan is being sought to support the cash flow needs of the new company, Vivace IoT, Inc. For 2025, a compensation package is accruing; upon completion of the business financing in October 2025, income projections are highly favourable.

The $350,000 loan will be secured by a property currently listed for sale at $5.8 million, either as a second-position lien or as a first-position lien under 50% loan-to-value (LTV). Alternatively, a new first mortgage of $2,850,000 may be arranged at approximately 50% LTV.
My client is requesting hard money business financing because a prior company’s credit issue affected his personal credit.
If the client moves out of the property, it will be classified as non-owner-occupied.

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Loan Request for Residential loan in Woodinville, WA, 98077