Tips on how to approach getting a commercial construction loan using land equity as down payment?

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Hello /r/loanoriginators I currently have a lake front property I bought a few years back that recently appraised at $165,000. I own this land without any leins or encumbrances. I am looking to get a construction loan of 550k using the land equity of 165k as the down payment. Do you think I could do it if so who should I approach big chain, local, ect?

First year income projection at roughly 364k gross 300k net.
80k personal income 45k W2 35k LLC Passthrough
FICO 2,5,8 736-756
10k current debt (Personal Loan)
1% credit card usage
I also have full site plans permits and quotes ready to present

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matt8297

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Posted: 2 years ago
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