Purchase of 1.55 Acres of Land for Real Estate Development in Kirkland, WA
Loan Amount: $566,500
Loan Type: Land

Challenge

Our Borrower was seeking a $566,500 Land Loan to purchase 1.55 acres of land in Kirkland, WA

· Ambiguous development timeline
· Several NODs

Solution

Due to:

· Active subject location
· Borrower’s experience with Real Estate Investment and Development
· Borrower’s upward trend in income

Grand Pacific was able to provide:

· 55% as-is LTV
· Full Payment Reserve
· Speedy Closing