Loan amount
$245,000
Loan type
Purchase
{Fix&Rent}
After Repair Value
$300,000
{PP:$220,000}
ARV
82%
{ARV}
Property type
Single Family
Borrower Details
Credit score
560
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Cumberland
State
Maryland
Loan Details
Purchase price
$220,000
Down payment
$5,000
Cost of improvements
$30,000
Estimated property value after repairs
$300,000
Additional Loan Information
House is located minutes from state of the art medical center, community college, and health department. Sits next to another new medical building providing privacy. Two car detached garage and full acre of peaceful backyard bliss with creek running through back of property (far from house). Basement is nearly finished, new metal roof and central A/C.
Kitchen and bathrooms need updated completely, along with sectioning off the basement for additional living space will put this home at nearly 2800 square feet of living space once completed.
I understand that my current credit score and amount to put down is not favorable, but I do have equity in my current property that I've had for over 8 years.
Kitchen and bathrooms need updated completely, along with sectioning off the basement for additional living space will put this home at nearly 2800 square feet of living space once completed.
I understand that my current credit score and amount to put down is not favorable, but I do have equity in my current property that I've had for over 8 years.
Status
Open
Created
November 27, 2023 - 4:32pm
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