Loan amount
$80,000
Loan type
Refinance
{Cash-Out}
As-Is Property Value
$160,000
LTV
50%
{LTV}
Property type
Single Family
Borrower Details
Credit score
670
Deal experience
1 deal
This loan scenario was submitted by a Broker
Yes
Property Details
City
Porter
State
Indiana
Loan Details
Current mortgage balance
$0
How much cash-out are you looking for?
$80,000
Additional Loan Information
Property was inherited, & she is assigning-over her interest to her husband. He has been doing an estimated 25K in renovations already completed.
They need to also pay-off 27K to Brother to buy him off the inheritance-deed.
They still need an approx. 20K to complete the rehab.
As is value: 140K, estimated ARV = 160K....values from their Realtor.
Area is rural, but, there is a very high demand, according to their Realtor.
Seeking best, approx. 80K Loan Amount: Cash-Out Refinance, to buy-out the Brother, do 20K more in rehab., & reimburse borrower for the 25K in renovations that he has already put in it.
They need to also pay-off 27K to Brother to buy him off the inheritance-deed.
They still need an approx. 20K to complete the rehab.
As is value: 140K, estimated ARV = 160K....values from their Realtor.
Area is rural, but, there is a very high demand, according to their Realtor.
Seeking best, approx. 80K Loan Amount: Cash-Out Refinance, to buy-out the Brother, do 20K more in rehab., & reimburse borrower for the 25K in renovations that he has already put in it.
Status
Open
Created
May 19, 2021 - 1:03pm
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