Loan amount
$275,000
Loan type
Refinance
{Cash-Out}
As-Is Property Value
$1,500,000
LTV
18%
{LTV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
600
Deal experience
5 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Chaska
State
Minnesota
Loan Details
Current mortgage balance
$110,000
How much cash-out are you looking for?
$165,000
Additional Loan Information
There are 5 properties all together in two parcels 2 Duplexes and 3 homes all together worth $1,500.000.00 right next to each other in Chaska Minnesota, has an existing Mortgage of $110,000 which will be paid off with the new loan, all the units are rented except 1 which need some rebab, total rent now $6,100 per month, $7,600 once the other property is rehabbed, need a Hard Money loan due to low credit scores, new credit is good and Mortgage has been always paid on time.
Status
Closed
Created
March 1, 2021 - 6:50pm
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