| HOUSING DEVELOPMENT |
4/5/2012 8:44:06 AM |
Broker Location: AL/35124 |
Construction/AL |
| PostID: 34016 |
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Status: Open |
| Loan Info: |
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| Amount |
$50,000,000 |
| Appraised Value |
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| LTV |
75 |
| DSCR |
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| Loan Term |
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| Loan Amortization |
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| Product Type |
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| Property Type |
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| Purpose |
Construction loan |
| Doc Type |
Full Doc |
| Borrower FICO |
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| Borrower DTI |
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| Keywords: INTERNATIONAL LOAN REQUEST |
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General Notes: | the construction project will be backed by an Irrevocable Trust Receipt with the lender as benifcary. Gvt has contracted to purchase anyy unsold homes. A mining company has contracted to do the same. Project is located in So.Africa in an area where the demand for housing is exploding because of the mining industry. Project will be built in 3 phases of appox. 50MM cost on each phase
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