I have a 17br co-living property (old ALf) that we did a lease on with option to purchase and now need to execute the purchase. We have fixed up and taken value to 1.5m and purchase price is 580k. Are there any lenders that will lend on the current value vs the purchase price?
I have had people tell me yes, but then their underwriters say no. Looking to put into a long term loan if that helps.