Loan amount
$175,000
Loan type
As-Is Property Value
$300,000
LTV
59%
{LTV}
Property type
Single family home
Borrower Details
Credit score
730
Deal experience
8 deals
This loan scenario was submitted by a Broker
Property Details
State
Alaska
Loan Details
Additional Loan Information
We currently are looking at purchasing a new home. It is a foreclosure and anticipating multiple offers and some will be cash. I believe we need to make cash offer for it to work. Price will be $325K. We have $140K cash on hand. Loan for only 30 to 90 days. If successful, will put our existing home on the market and obtain a renovation loan on the property. Current home is worth $400K with $290K owed. Both properties located in Juneau 99801. Renovation budget $139K. Timeline of 3 months. ARV $475K. Will occupy the new home.
Status
Closed
Created
July 16, 2020 - 3:50pm
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