Loan amount
$400,000
Loan type
As-Is Property Value
$500,000
LTV
80%
{LTV}
Property type
Multi-family
Borrower Details
Credit score
800
Deal experience
None
This loan scenario was submitted by a Broker
Property Details
State
New York
Loan Details
Additional Loan Information
Purchasing a 12 acre lot of land with a single family home needing gut reno and a 6-unit apartment complex also on the same property. Purchase price $275K. Renovation budget $150K. 4 month timeline. ARV $500K. Not yet in contract. Property located in Dover Plains, NY. Plan to occupy one unit and rent out the rest for $2,500/month. Prefer 5+ year loan duration.
Status
Closed
Created
July 6, 2020 - 2:24pm
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