Loan amount
$135,000
Loan type
As-Is Property Value
$151,000
LTV
90%
{LTV}
Property type
Single family home
Borrower Details
Credit score
636
Deal experience
None
This loan scenario was submitted by a Broker
Property Details
State
Maine
Loan Details
Additional Loan Information
Single family house, neighboring house. Great neighborhood, good lot size. Elderly man living there passed and family offered house to us to good price. First floor is move in ready just needs a good cleaning. Second floor has all framing just need drywall and paint. My spouse is a carpenter/builder and can do any work needed. Will only take 1-2 weeks to make 2nd floor ready. Sale price $135K. Estimated current market value $151K. ARV $175K. Renovation budget of $3K. Located in Berwick, ME. Property will be rented out once work is complete. We already have a renter lined up to rent the house. Prefer a long-term loan but am flexible.
Status
Closed
Created
October 9, 2019 - 8:00am
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