Loan amount
$240,000
Loan type
As-Is Property Value
$300,000
LTV
80%
{LTV}
Property type
Duplex
Borrower Details
Credit score
660
Deal experience
4 deals
This loan scenario was submitted by a Broker
Property Details
State
Massachusetts
Loan Details
Additional Loan Information
Building a modular Duplex close to Athol center with utility hook ups. Total project cost of $240K, 120K per unit. listing price will be 175K targeting 165K closing. Less points and realtor fees 14K (8%) would be around 30K profit on each unit. Looking to put down around $36K 15% (or, less if possible) with 2 to 3 points on the backend when units close. Paying back 120K per unit plus points. looking for 6 month loan term with no upfront closing costs. Modular construction to cut down on the risk (built 4 modular previously 2003-2005). Looking for 6 month loan term with no upfront closing costs.
Status
Closed
Created
April 5, 2020 - 11:55am
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