Loan amount
$324,000
Loan type
Refinance
{Construction}
After Repair Value
$570,000
ARV
57%
{ARV}
Property type
Single Family
Borrower Details
Credit score
700
Deal experience
4 deals
This loan scenario was submitted by a Broker
No
Property Details
City
State College
State
Pennsylvania
Loan Details
Current mortgage balance
$0
Cost of improvements
$324,000
Estimated property value after repairs
$570,000
Additional Loan Information
The project is a new construction build of a 2,772 SF home by Berks Homes, a regional builder in central Pennsylvania. The land is owned outright with an appraised value of $65K. The home to-be-built will be sold at $205 per SF at $568,260. A deposit of $5K to the builder has been paid along with around $15K paid in soft costs. The total request for a loan is $324,000.
Status
Closed
Created
March 1, 2021 - 5:43pm
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