Loan amount
$55,000
Loan type
Refinance {Cash-Out}
As-Is Property Value
$110,000
LTV
50% {LTV}
Property type
Other Commercial
Borrower Details
Credit score
520
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Sorrento
State
Florida
Loan Details
Current mortgage balance
$0
How much cash-out are you looking for?
$55,000
Additional Loan Information
This project includes two parcels. 1.) A single family home in need of extensive repairs due to a fire. 2.) A parcel primarily utilized for agricultural use. Roughly 12,000 sqft of greenhouses along with a warehouse for storage. Both in fairly rough shape, but still containing over 10,000 plants. Both parcels are inherited by the family who built the business and hope to regain value in the land.
Status
Created
May 20, 2022 - 7:40pm

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