Loan amount
$185,000
Loan type
As-Is Property Value
$400,000
LTV
47%
{LTV}
Property type
Commercial / Restaurant
Borrower Details
Credit score
700
Deal experience
30 deals
This loan scenario was submitted by a Broker
Property Details
State
Massachusetts
Loan Details
Additional Loan Information
Restaurant located on lake in Southwick, Massachusetts. - same owner for 30 years is retiring. Purchase price $225K. Putting down $45K. Will be in contract this weekend. Loan duration 12 months. I just hired appraiser this morning. Property is undervalued and given the waterfront, I estimate is worth closer to $400K.
Status
Closed
Created
November 14, 2019 - 9:55am
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