Loan amount
$56,000
Loan type
Purchase {Rent&Hold}
As-Is Property Value
$81,000 {PP:$60,000}
LTV
69% {LTV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
709
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Emmetsburg
State
Iowa
Loan Details
Purchase price
$60,000
Down payment
$4,000
Additional Loan Information
Buying an old school that has been turned into 8 units. I plan on using one of the units as my primary residence. Building needs work to rent, but I drive a semi all over the US and can pay mortgage as I work on building until its rentable. I also have 10 years construction experience for my fathers constitution company, so I see the potential in this building. 22,000 sq ft 3 story building. Wanting to purchase asap.
Status
Created
October 22, 2021 - 11:42pm

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