Loan amount
$150,000
Loan type
As-Is Property Value
$910,000
LTV
17%
{LTV}
Property type
Commercial
Borrower Details
Credit score
700
Deal experience
2 deals
This loan scenario was submitted by a Broker
Property Details
State
Alabama
Loan Details
Additional Loan Information
I own a commercial building with a contract on it for $910K. I owe $310K, but need to do some repairs prior to closing. The cost for those repairs is going to cost roughly $150K. The church that is buying the property wants the repairs done prior to the closing on October 11th. I need $150K loan to complete the repairs. That I don't need is a loan with a extremely high interest rate. Property located in Columbiana, Alabama.
Status
Closed
Created
July 21, 2020 - 9:20am
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