Loan amount
$50,000
Loan type
As-Is Property Value
$250,000
LTV
20%
{LTV}
Property type
Single family home
Borrower Details
Credit score
695
Deal experience
None
This loan scenario was submitted by a Broker
Property Details
State
North Carolina
Loan Details
Additional Loan Information
I have a three bedroom, 2 bath cabin I plan on turning into a vacation property. The funds I am requesting will be for the rehab of the property and I have $20K I can bring as a down payment.
I currently own the property and I bought it for no money down in July for $128,500. I owe around $127,000 for the property now. My renovation budget is $50,000 and my ARV on the home would be $250,000. The property is located in Waynesville, NC, and I am looking for a one year loan.
Personally, I am a business professional who has a bachelors degree and is currently working on an MBA.
I currently own the property and I bought it for no money down in July for $128,500. I owe around $127,000 for the property now. My renovation budget is $50,000 and my ARV on the home would be $250,000. The property is located in Waynesville, NC, and I am looking for a one year loan.
Personally, I am a business professional who has a bachelors degree and is currently working on an MBA.
Status
Closed
Created
November 20, 2019 - 9:45am
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