Loan amount
$1,900,000
Loan type
Refinance
{Cash-Out}
As-Is Property Value
$2,800,000
LTV
68%
{LTV}
Property type
Single Family
Borrower Details
Credit score
738
Deal experience
None
This loan scenario was submitted by a Broker
Yes
Property Details
City
San Francisco
State
California
Loan Details
Current mortgage balance
$1,735,000
How much cash-out are you looking for?
$165,000
Additional Loan Information
I have loan in San Francisco that my client needs to get funded
The Borrowers loan is currently due with Youland, Inc. It also has a 2nd that filed an NOD to protect itself. The 2nd is a friendly 2nd and will subordinate to a new 1st and will remove the NOD once we have new 1st.
Borrower has good Credit 730 Score
Property appraised for $2.8M
We are looking for a new 1st of $1.9M for 12 months
Plan is to do some light rehab and sell in the spring.
$1,735,000 - Payoff
$30,000 – Property taxes
$7,000 – Title
$75,000 – Lender and Broker Fees
$45,000 – 3 Months prepaid Interest
$8,000 – Misc
$1,900,000 New Loan Amount
68% LTV
The Borrowers loan is currently due with Youland, Inc. It also has a 2nd that filed an NOD to protect itself. The 2nd is a friendly 2nd and will subordinate to a new 1st and will remove the NOD once we have new 1st.
Borrower has good Credit 730 Score
Property appraised for $2.8M
We are looking for a new 1st of $1.9M for 12 months
Plan is to do some light rehab and sell in the spring.
$1,735,000 - Payoff
$30,000 – Property taxes
$7,000 – Title
$75,000 – Lender and Broker Fees
$45,000 – 3 Months prepaid Interest
$8,000 – Misc
$1,900,000 New Loan Amount
68% LTV
Status
Open
Created
October 11, 2022 - 5:10pm
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