Loan amount
$375,000
Loan type
As-Is Property Value
$615,000
LTV
61%
{LTV}
Property type
Single family home
Borrower Details
Credit score
591
Deal experience
2 deals
This loan scenario was submitted by a Broker
Property Details
State
Oregon
Loan Details
Additional Loan Information
I own my house and 10 acres free and clear with a market value of $413K. I need to refinance it to pay Federal and State back-taxes along with paying off a rental that is going through foreclosure. I owe $165K in taxes. Property is in Blodgett, OR. Owner-occupied. Loan needed only until I can clean my credit up and get a conventional loan. The rental property is in Philomath, Oregon. Balance on the loan is $65K to get it out of foreclosure plus daily interest. Rental income is $1000 per month. Rental market value is around $285K. Will add the rental as additional collateral, if needed.
Status
Closed
Created
February 27, 2020 - 10:52am
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