Loan amount
$1,042,500
Loan type
Refinance
{Construction}
After Repair Value
$1,400,000
ARV
74%
{ARV}
Property type
Single Family
Borrower Details
Credit score
689
Deal experience
5 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Houston
State
Texas
Loan Details
Current mortgage balance
$229,500
Cost of improvements
$812,628
Estimated property value after repairs
$1,400,000
Additional Loan Information
-Property Description:
Houston, TX 77336
-New Ground-Up Construction
-4 Bedrooms
-4.5 Bathrooms
-3 Car Garage Attached
-5,960sqft.
-4.67 Acre Lot
-Land Purchase Price:
$275,000. (Land Cost)
-Total Construction Cost:
$812,628. Construction Cost
-Total Project Cost:
$1,087,628.
-As Completed Value:
$1,400,000. (Independent Appraisal Report Attached Below)
-Loan Request:
$980,000. *$275,000 x 60% = $165,000.(Land Purch.) + $812,628.(Construction Cost) = $977,628 Loan Request
-Total Livable Sqft:
5,960sqft.
-Hazard Insurance:
$541.67 monthly
-Real Estate Taxes:
$347.00 monthly
-Credit Score:
689
-Exit Strategy:
Upon completion, the Developer/Builder Plans to Sell the Property.
-Documents Available Upon Request:
-Property Survey
-Appraisal Report
-Adrian Mosley ID & SS
-Project Budget Estimate
-FoA Credit Check 10/04/2022
====================================================================
=====================================================
Houston, TX 77336
-New Ground-Up Construction
-4 Bedrooms
-4.5 Bathrooms
-3 Car Garage Attached
-5,960sqft.
-4.67 Acre Lot
-Land Purchase Price:
$275,000. (Land Cost)
-Total Construction Cost:
$812,628. Construction Cost
-Total Project Cost:
$1,087,628.
-As Completed Value:
$1,400,000. (Independent Appraisal Report Attached Below)
-Loan Request:
$980,000. *$275,000 x 60% = $165,000.(Land Purch.) + $812,628.(Construction Cost) = $977,628 Loan Request
-Total Livable Sqft:
5,960sqft.
-Hazard Insurance:
$541.67 monthly
-Real Estate Taxes:
$347.00 monthly
-Credit Score:
689
-Exit Strategy:
Upon completion, the Developer/Builder Plans to Sell the Property.
-Documents Available Upon Request:
-Property Survey
-Appraisal Report
-Adrian Mosley ID & SS
-Project Budget Estimate
-FoA Credit Check 10/04/2022
====================================================================
=====================================================
Status
Closed
Created
November 4, 2022 - 7:27am
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