Loan amount
$710,000
Loan type
Purchase
{Construction}
After Repair Value
$1,400,000
{PP:$490,000}
ARV
51%
{ARV}
Property type
Single Family
Borrower Details
Credit score
600
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Clarence Center
State
New York
Loan Details
Purchase price
$490,000
Down payment
$30,000
Cost of improvements
$250,000
Estimated property value after repairs
$1,400,000
Additional Loan Information
We have signed a purchase contract. I am giving the 20,000 for escrow. The house sits on 5 acres. It needs full renovation it has been vacant for 10 years. I will be doing the work myself. I own a construction company doing around 2.5 million a year.
Status
Open
Created
September 30, 2023 - 9:18pm
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