Loan amount
$1,235,000
Loan type
Refinance
{Fix&Rent}
After Repair Value
$2,500,000
ARV
49%
{ARV}
Property type
Other Commercial
Borrower Details
Credit score
616
Deal experience
3 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Chelsea
State
Michigan
Loan Details
Current mortgage balance
$1,035,000
Cost of improvements
$200,000
Estimated property value after repairs
$2,500,000
Additional Loan Information
Currently operating as a high end daycare. Need to address balloon payment on mortgage and complete lower level for maximum occupancy. Recent 3rd party Appraisal available.
Status
Open
Created
January 14, 2024 - 3:08am
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