Loan amount
$900,000
Loan type
As-Is Property Value
$1,050,000
LTV
86%
{LTV}
Property type
Apartment Building
Borrower Details
Credit score
760
Deal experience
6 deals
This loan scenario was submitted by a Broker
Property Details
State
Indiana
Loan Details
Additional Loan Information
The property is a 24 unit apartment complex located in Pierceton, Indiana. The purchase price is for $1.05M with a $50k seller note. I am seeking a 90% LTV product in which I bring 10% of the purchase price and the operating reserves. The desired loan term is 18-24 months, with a projected stabilization and subsequent refinance into a Fannie/Freddie small balance loan at the 12 month mark.
Status
Closed
Created
March 4, 2020 - 9:10am
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