Loan amount
$380,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$420,000
{PP:$400,000}
LTV
90%
{LTV}
Property type
Other Commercial
Borrower Details
Credit score
700
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Irmo
State
South Carolina
Loan Details
Purchase price
$400,000
Down payment
$20,000
Additional Loan Information
This is a loan for an 8 bay automotive facility with all equipment included. We are already in the automotive business but are leasing at the moment and would like to purchace this facility so we have a permanent place and are no longer leasing. We have been in the automotive repair business in this area for 10 months and have had immediately consistent sales of $30,000 to $38,000 each month with selling above that but need more space to grow even more.
Status
Open
Created
May 5, 2021 - 9:40am
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