Loan amount
$272,000
Loan type
As-Is Property Value
$450,000
LTV
61%
{LTV}
Property type
Condo
Borrower Details
Credit score
750
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Florida
Loan Details
Additional Loan Information
3BR, 2BH, Bunk RM, Beach Front Unit. 1528 Shores of Panama, Panama City Beach, FL 32407. Contract bid amount from auction $390,500 paid EM $390,500. Will put down additional 20% loan amount $272,000. Estimated property value of $450K. There are 2 bedroom condos for sale at Shores of Panama for $425K. We have tried regular financing but the property is classed a Condo-tel. It will be a vacation rental with my family spending 4 weeks a year there.
Status
Closed
Created
January 3, 2020 - 10:57am
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