Loan amount
$221,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$250,000
{PP:$229,000}
LTV
88%
{LTV}
Property type
Multi-Family 1-4 Units
Borrower Details
Credit score
680
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Albany
State
New York
Loan Details
Purchase price
$229,000
Down payment
$8,015
Additional Loan Information
Currently in the just looking stage. Once i get approved for financing i will be looking to submit offers. This will be my first property.
Estimated purchase price is going to be between $200,000-$250,000. Looking for a 2 unit rental property in a stable student rental market located in Pine Hills Albany,NY. Depending on the exact property location and condition rent projections are looking at between $1,200-$1600 per unit. Sometime in the future(Less than 2 years) i would be looking to refinance into a conventional mortgage.
Estimated purchase price is going to be between $200,000-$250,000. Looking for a 2 unit rental property in a stable student rental market located in Pine Hills Albany,NY. Depending on the exact property location and condition rent projections are looking at between $1,200-$1600 per unit. Sometime in the future(Less than 2 years) i would be looking to refinance into a conventional mortgage.
Status
Open
Created
January 3, 2021 - 7:16pm
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