Deal Status

Active

Property Address

Los Angeles, California 90069

Requested Loan Amount

$$4,300,000

Loan to Value

75

Loan Term

18

Lien Position

1st

Collateral Type

Residential Property

Exit Strategy

Refinance

Collateral and Loan Details

Property Type

Single Family Residence

Property Occupied

No

Loan Type

Ground-Up Construction (already own land)

Property Sq. Footage

1

Property Type

Residential

Residential Property Type

Single Family Residence(s)

Commercial Property Type

Other

Project Phase

Planning

Estimated Costs

2750000

Description

Lot is 5,670 sq ft vacant land, cleared land. Proposed square feet 5,710

Budget

Yes

Licensed

No

Lot Size

1

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Excellent

Comments

I am seeking a construction loan in the amount of approximately $4,600,000. The project involves the spec building of a custom home in the Hollywood Hills, Los Angeles CA. The existing structure has already been razed. The project is permitted and ready to go. All soils reports had been completed. The builder is experienced in building homes of this caliber and has credit scores over 700. Property has an appraisal of $7,600,000 upon completion. Builder information is available including credit report, financials, history and licenses. Use of funds: $1,600,000 Existing Loan Payoff $2,750,000 Construction $ 250,000 Interest Reserves and loan costs $4,600,000 Loan Amount Requested ----------------- Location: City of Los Angeles (Mulholland Drive to the north, Sunset Blvd to the south, Kirkwood Dr and Hillcrest Rd to the west.) Project Lot is 5,670 sq ft vacant land, cleared land. Proposed square feet 5,710 ------------------------------------- Summary $2,180,000 Purchase price of lot 05/16/2017 $4,600,000 Loan amount Requested $5,450,000 Total cost 85% Loan to cost $7,600,000 After Repair Value 60% ARV

First Name

Noelle

Last Name

Wheeler

Phone Number

949-588-8453 x228

Company

Nationwide Mortgage

Role

Borrower

Location

Mission Viejo California USA

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