Loan amount
$180,000
Loan type
As-Is Property Value
$240,000
LTV
75%
{LTV}
Property type
Single family home
Borrower Details
Credit score
620
Deal experience
4 deals
This loan scenario was submitted by a Broker
Property Details
State
Wisconsin
Loan Details
Additional Loan Information
Residential vacation rental. It is in lake Geneva WI on the edge of the business district which is a prime location. It is a licensed tourist Rooming house (vacation rental) with verifiable rental income since 2011. I have a unique nonconforming use designation which makes its rental income potential double of comparable properties. Owned by myself and would like to put into an LLC. My current loan is a Fannie Mae loan so I have to refinance. $178K is owed. I’m looking for at least 5 years to 30 years. It depends on the terms. I would be open to options.
Status
Closed
Created
January 1, 2020 - 6:59pm
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