Loan amount
$373,500
Loan type
Purchase
{Fix&Flip}
After Repair Value
$598,320
{PP:$270,000}
ARV
62%
{ARV}
Property type
Single Family
Borrower Details
Credit score
605
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Saint Louis
State
Missouri
Loan Details
Purchase price
$270,000
Down payment
$35,000
Cost of improvements
$138,500
Estimated property value after repairs
$598,320
Additional Loan Information
This property is under contract already and is a 2,770 sq ft two stories house, it is in a neighborhood where multiple comps support the ARV that is being presented. The seller says that he has done updates to the roof, electrical, plumbing, and HVAC, which are all big-ticket items, yet I am still including them on the rehab cost until I verify through an inspection that this is true. If these don’t need to be fixed, then the rehab loan will drop significantly.
Status
Open
Created
April 24, 2022 - 7:23pm
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