Loan amount
$44,500
Loan type
Refinance
{Cash-Out}
As-Is Property Value
$89,000
LTV
49%
{LTV}
Property type
Single Family
Borrower Details
Credit score
538
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Youngstown
State
Ohio
Loan Details
Current mortgage balance
$1
How much cash-out are you looking for?
$44,000
Additional Loan Information
Hello I have a few questions
1. I am trying to pull money out of a property to pay off debt. I am not looking to “fix and flip”. The property was an inheritance and I would like to keep it in my family. Is this possible?
2. I own the home free and clear with the exception of the taxes that are due, there is no lien on the property. Do you have any programs to help me?
3. I currently have a low credit score due to debt that I occurred due to starting a business. I want to use the equity in the property to pay off the debt. Is this possible? I think what I am looking for is more of a bridge loan.
Again my score is 551 equifax and 531 TransUnion this is only because of the recent debt that I took out.
I do have 2 verified income sources from paying jobs
4. What is the amount of money that I can be offered?
5. What is the process that is involved and how long does this take? What kind of appraisal is involved?
Again thank you for your time
1. I am trying to pull money out of a property to pay off debt. I am not looking to “fix and flip”. The property was an inheritance and I would like to keep it in my family. Is this possible?
2. I own the home free and clear with the exception of the taxes that are due, there is no lien on the property. Do you have any programs to help me?
3. I currently have a low credit score due to debt that I occurred due to starting a business. I want to use the equity in the property to pay off the debt. Is this possible? I think what I am looking for is more of a bridge loan.
Again my score is 551 equifax and 531 TransUnion this is only because of the recent debt that I took out.
I do have 2 verified income sources from paying jobs
4. What is the amount of money that I can be offered?
5. What is the process that is involved and how long does this take? What kind of appraisal is involved?
Again thank you for your time
Status
Open
Created
November 6, 2023 - 11:29am
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