Loan amount
$50,000
Loan type
Refinance {Cash-Out}
As-Is Property Value
$65,000
LTV
77% {LTV}
Property type
Single Family
Borrower Details
Credit score
580
Deal experience
20 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Hooks
State
Texas
Loan Details
Current mortgage balance
$30,000
How much cash-out are you looking for?
$20,000
Additional Loan Information
Property is currently vacant. It needs cosmetic rehab and some electrical and plumbing. My plan is to do a light rehab on the property then sell it owner finance or rent it. I plan on selling it owner finance for $75,000 and think this will be possible. I can do an interest only loan at up to 14% but would like to make quarterly instead of monthly payments.
Status
Created
March 11, 2022 - 5:14pm

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