Loan amount
$124,000
Loan type
As-Is Property Value
$190,000
LTV
66%
{LTV}
Property type
Single family home
Borrower Details
Credit score
598
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
New Mexico
Loan Details
Additional Loan Information
Bought a foreclosure with intent to fix and flip in 2010 for $119K. Haven't been able to afford the renovations. I have a lot of equity in as-is condition, but could profit a lot more if repaired. Currently owe $99K. Looking to refinance with cash-out to finish the renovations. As-is value $140K, ARV $190K. Work will take 1-3 months given the current environment. Property located in Las Cruces, NM. Will sell once complete. Owner-occupied.
Status
Closed
Created
June 25, 2020 - 2:49pm
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