Loan amount
$347,000
Loan type
Refinance {Construction}
After Repair Value
$700,000
ARV
50% {ARV}
Property type
Single Family
Borrower Details
Credit score
640
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Paige
State
Texas
Loan Details
Current mortgage balance
$180,000
Cost of improvements
$167,000
Estimated property value after repairs
$700,000
Additional Loan Information
We own 26 acres of land in Paige Tx with an estimated value of $500,000 and owe $180,000 (estimated equity $320,000). We are purchasing a new manufactured home for $215,000 and can put cash down of $48,000. We are requesting $350,000 which would include the home purchase minus down payment and the remaining balance of the current land loans. The combined value of the land and new home would be estimated at $700,000. Can you help fund our project?
Status
Created
August 31, 2023 - 10:21am

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