Loan amount
$575,000
Loan type
As-Is Property Value
$1,100,000
LTV
53%
{LTV}
Property type
Single family home (2)
Borrower Details
Credit score
670
Deal experience
5 deals
This loan scenario was submitted by a Broker
Property Details
State
Georgia
Loan Details
Additional Loan Information
Owner purchased two homes and 14 acre lot. One home is 1500 sq feet and the other is 11,000 sq feet. The owner has spent $55K on the demo of work of the two properties. The 1500 sq foot property only kitchen and bathrooms are needed. The larger home has been demoed and is ready for rehab. Exit strategy - the owner will keep the properties and we will refi the properties into a 30 year loan once the properties are complete. Looking for a 1 year bridge loan to finish the properties. Properties located in Ellenwood GA. $262K owed on all. I am a broker representing my client.
Status
Closed
Created
March 16, 2020 - 5:26pm
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