Loan amount
$40,000
Loan type
Refinance
{Cash-Out}
As-Is Property Value
$60,000
LTV
67%
{LTV}
Property type
Single Family
Borrower Details
Credit score
625
Deal experience
3 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Warner Robins
State
Georgia
Loan Details
Current mortgage balance
$0
How much cash-out are you looking for?
$40,000
Additional Loan Information
Cash out refinance for debt consolidation. My client has 2 single family houses in the same city. Both properties are free and clear of mortgage debt. My client would like to portfolio the 2 properties into one loan and get cash of of both for debt consolidation.
One property should appraise at $60,000, the other should appraise at $55,000. With a combined value of $115,000, my client would like to get $70,000 cash out, which is just under 61% LTV.
One property should appraise at $60,000, the other should appraise at $55,000. With a combined value of $115,000, my client would like to get $70,000 cash out, which is just under 61% LTV.
Status
Closed
Created
January 31, 2022 - 4:29pm
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