| Documented money | Stated Income | No Income Docs |
|---|---|---|
| 90% to $ 400,000 | 80% to $ 400,000 | 65percent to $ 400,000 |
| 80percent to $ 650,000 | 75percent to $ 650,000 | 60percent to $ 650,000 |
| 70per cent to $3,000,000 | 65percent to $3,000,000 | 50per cent to $1,000,000 |
Example Loan Amount Calculation
The next is a normal calculation; your loan provider could have a somewhat various installment loans in kentucky approach centered on their recommendations.
| Illustration of a Construction Loan Amount Calculation | ||
|---|---|---|
| Land price | $100,000 | or value if owned over per year |
| Soft Cost of Construction | $ 25,000 | plans, licenses, etc. |
| Hard price of Construction | $225,000 | cost to create |
| Closing Costs | $ 13,750 | charges, name, escrow, etc. |
| Contingency Reserve | $ 11,250 | 5% of difficult expenses |
| Interest Reserve | $ 10,000 | to cover interest payments |
| Total Project Cost | $385,000 | |
| Future Value | $500,000 | according to assessment |
Step one: 85% of task cost = 385,000 x 85% = $327,250
Continue reading “Here you will find the Loan to Values which can be financed, for 1-4 devices:”