Loan amount
$200,000
Loan type
As-Is Property Value
$500,000
LTV
40%
{LTV}
Property type
Single family home
Borrower Details
Credit score
600
Deal experience
4 deals
This loan scenario was submitted by a Broker
Property Details
State
Florida
Loan Details
Additional Loan Information
I've purchased all cash single family pool home in Naples Florida, valued at $440K with no mortgage. One of the most sought communities in Southwest Florida, voted community of the year in 2014 and 2015. Fix and flip. Need financing for remodel, taxes HOA fees and more. Will be handled through my Naples Real estate attorney who is also Trustee. Renovation budget $45K. ARV $490-520K. I'm looking for an open loan, with a 6 month or less penalty clause but and especially with Covid- 9 ravishing the country, I want at least a two year commitment for payoff.
Status
Closed
Created
July 14, 2020 - 9:43am
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