The Client

Experienced real estate developer purchasing a piece of land for the construction of a 12 unit Multi-Family Complex.

How We Helped

As a Foreign National, the developer has used personal cash to finance prior builds, due to the struggle of getting construction financing as a non-US citizen.

We were able to secure a purchase loan for the piece of land that will roll into a vertical construction loan, once permitting is complete. At 50% LTV for the land purchase, and 65% LTC construction loan once the project is shovel ready, the borrower would happily be able to retain more of their personal funds.

Loan Details

NationalityProperty ValueLoan AmountLTVRate
China Citizen $1,500,000 Land purchase $750,000 50% 8.99%
Term StateProperty TypePurposeLoan Type
24-month total term with possible extensionsTacoma, WashingtonMulti-family constructionPurchaseLand/Construction
NationalityChina Citizen
Property Value$1,500,000 Land purchase
Loan Amount $750,000
LTV50%
Rate8.99%
Term24-month total term with possible extensions
StateTacoma, Washington
Property TypeMulti-family construction
PurposePurchase
Loan TypeLand/Construction

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