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Financing of Multi-Family Build on Owned Property
My client would like to get financing for the following scenario:
- Client that owns property outright and is hoping to
build an apartment building(s) on this property - Client
wishes to finance 100% of the buildout - The
property is in Texas - Value
of Land $250K - Estimated
construction cost $600K - Credit
score estimated at 700 - What other parameters must be considered? Reserves, LTV, etc.? Could this qualify via DSCR?
- Client that owns property outright and is hoping to