Loan amount
$40,000
Loan type
As-Is Property Value
$88,000
LTV
46%
{LTV}
Property type
Multi-family
Borrower Details
Credit score
638
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Wisconsin
Loan Details
Additional Loan Information
Looking to use equity in my current multi-family to purchase another property for an investment. Current property is worth $58K and owned free and clear. I occupy one unit and the other brings in $800/month in rental income. Both properties located in Milwaukee. Purchase price of new property is $30-40K, which would be included along with my current property as collateral on the loan. Not yet in contract. Flexible on loan duration.
Status
Closed
Created
December 15, 2019 - 10:38am
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