Loan amount
$60,000
Loan type
As-Is Property Value
$110,000
LTV
55%
{LTV}
Property type
Single family home
Borrower Details
Credit score
570
Deal experience
15 deals
This loan scenario was submitted by a Broker
Property Details
State
Texas
Loan Details
Additional Loan Information
I own a 3/2/2 brick 1570 sq ft home valued at approx 92K, with a 1st mortgage of about $38k. The property is rented out, generating $850/month. I'd like to refinance and pull out some cash in order to complete some minor upgrades to improve the resale value. I'd like the $60k, but would be okay with $50-55k, if the $60k is not possible. Current value $92K. ARV $100-110K. Located in Santa Rosa, TX. Will either hold as a rental or sell. I've bought/held/sold/owner financed out/rented out properties for the past 20+ years. I've also held a realtors license for a few years before returning to the field of education.
Status
Closed
Created
January 2, 2020 - 5:34pm
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