Loan amount
$205,000
Loan type
As-Is Property Value
$236,500
LTV
87%
{LTV}
Property type
Town home
Borrower Details
Credit score
800
Deal experience
5 deals
This loan scenario was submitted by a Broker
Property Details
State
Alaska
Loan Details
Additional Loan Information
Purchased property 2 years ago with girlfriend. I put up the down payment $10,000. Loan is in Her name. I have a quit claim to property. We have separated and I want to cash her out for $20K. Current loan balance is $185,000. Property when purchased was in need of a makeover. To date I have 60% of remodel complete. I would like to secure a loan for 1 year to complete the remodel and sell. The covid-19 situation has me believing next year will be a better time to sell. I am a contractor by trade. Self employed and very busy. I have good income, good credit but just started my business at the beginning of 2020. Property is very desirable. Realtors love what I’ve done and believe when complete, won’t last a week on the market. Current value $236K. ARV $250-260K. Property located in Anchorage, Alaska 99518. Owner-occupied.
Status
Closed
Created
May 15, 2020 - 1:10pm
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