Ricky Khamis's Blog: 3,500,000 Spec Loans

BK0013635

3,500,000 Spec Loans

State: Arizona
Amount: $3,500,000
LTV: 60%
Property type: Single-family
Documentation: Full
FICO: 690
Occupancy: Non-Owner Occupied
Loan purpose: Construction
Debt-to-income ratio: 30/30
Desired program: Other

I need spec financing for a seasoned builder in Arizona, the property is ready to go vertical foundation already laid. The purpose of the refinance of the current construction loan is to buy out the current partners and replace the construction loan with a better suited bank private investor. The initial draw will be about 1.4 mil. Current appraisal is at 2mill while the TBC appraisal is at 6.2mil. Private investor will be best does anyone have any ideas? There are 2 identical deals for same borrower so total loan amounts will be about 7mil

 

Call me if you have any investors interested

 

602-758-7425 

 

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Ricky Khamis
NMLS 173141 | LO-0911814 | CA-DOC173141
Branch Manager | Corporate Office
Arizona and California CE Instructor

Email: Rick@amerifirst.us

480-344-1900 office
602-758-7425 mobile
480-339-1615 fax

AMERIFIRST FINANCIAL, INC.
NMLS 145368 

1550 E. McKellips Rd, Suite 117
Mesa, AZ 85203
480-344-1900
1-866-276-12974
BK0013635

 

Amerifirst Financial Disclosure-  The opinions expressed here are the personal opinions of Ricky Khamis.  Content published here is not read or approved by Amerifirst Financial before it is posted and does not necessarily  represent the views and opinions of Amerifirst Financial.

Comment balloon 0 commentsRicky Khamis • March 15 2008 03:11PM

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