Loan amount
$200,000
Loan type
As-Is Property Value
$235,000
LTV
86%
{LTV}
Property type
5 acre lot with 2 houses and shop
Borrower Details
Credit score
550
Deal experience
None
This loan scenario was submitted by a Broker
Property Details
State
Alabama
Loan Details
Additional Loan Information
I need $162K to pay off the property and then I'm able to purchase a large order for my business which is located on this land in Wetumpka. I own a spray foam insulation and concrete lifting family business. I'm the only female owner of a spray foam company in the state of Alabama and I'm booked so much I need to order at least a truck load of chemicals which is $75K. Our monthly income would go from $32K each month to $70K. Please give me one chance that is all I'm asking for. Property is worth $235K and has a house that I occupy, another house that is rented for $250/month, and the business shop. I would like to pay the loan off in 12-18 months.
Status
Closed
Created
September 12, 2019 - 9:02am
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