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How should institutions determine the loan amount to calculate the LTV ratio for a loan to finance a phase of a multi-phase tract development?

April 26, 2017CALCULATE determine Finance Institutions loan LTV multi-phase phase ratio tract

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How should institutions determine the loan amount to calculate the LTV ratio for a loan to finance a phase of a multi-phase tract development?

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If an institution commits to finance only a phase of development or construction rather than an entire multi-phase tract development project, the loan amount is the legally binding commitment for the phase.