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Can I get 40yr FIXED 3.25% loan on completed residential construction take-out NOTE $750,000.00 $ 5 Million value?

Can I get 40yr FIXED 3.25% loan on completed residential construction take-out NOTE $750,000.00 $ 5 Million value?

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  Answers  |  3

July 15, 2014

property in LA County Malibu

$commenter.renderDisplayableName() | 09.20.17 @ 00:38

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July 15, 2014

need willing lender in area

$commenter.renderDisplayableName() | 09.20.17 @ 00:38

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July 16, 2014

Hello:

You're reported loan to value on $750k to $5 million should certainly fit well within lending guidelines. The interest rate however, like all proposed transactions, will depend on your credit score, type of loan (we are not seeing too many 40yr amortization loans out there anymore), and other factors as well. Keep in mind as well that there is usually a waiting period on new home purchases whereby the owner cannot "cash-out refinance" (pull out equity) for a specified period of time. My recommendation would be to start with a visit or call to a reputable loan officer that can look over your documentation and the overall situation.

$commenter.renderDisplayableName() | 09.20.17 @ 00:38

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