building house on empty lot
| Listing Information | |||
|---|---|---|---|
| Amount: | $21,500.00 | Status: | Loan created |
| Grade: | AA | DTI: | 43% |
| Lender Rate: | 15% | Borrower: | toodise15 |
| Finished | State: | WA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-04-01 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Mar 30, 2008 | Current |
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Purpose of loan: This loan will be used to build a house on the lot next door. My wife and I own the lot next door and have hired an architect to design a house that we intend to sell. We need $21,500 to pay for surveys, initial architectural fees, soils report and permits. Once we have the plans drawn we can then get the construction loan that we will use to repay the remaining balance of the loan. I expect to have this paid back in 6 months. My financial situation: I am a good candidate for this loan because I work for a building company and because my wife and I got a great bargain when we purchased the lot. The bank will not loan us money until we have plans, budget, etc. I have very good credit and I would not jeopardize my credit rating so you can be assured it will be paid back. |
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