Loan amount
$80,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$140,000
{PP:$90,000}
LTV
57%
{LTV}
Property type
Other Commercial
Borrower Details
Credit score
550
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Archie
State
Missouri
Loan Details
Purchase price
$90,000
Down payment
$10,000
Additional Loan Information
Would like to purchase this 10 acre rural tract. It includes a 7000 sq foot indoor livestock market facility. Approximately 5000 sq ft of this building is currently leased for $1000 per month. My intent is to move to this property and utilize the additional 2000 square feet of building space for a merchandise liquidation company that I am starting. The $1000 lease should make the payment on the loan. Also, I am selling my current home. This will remove a $840 monthly payment I am currently making.
Status
Open
Created
September 16, 2022 - 1:53pm
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