Loan amount
$25,000
Loan type
As-Is Property Value
$65,000
LTV
39%
{LTV}
Property type
Single family home
Borrower Details
Credit score
659
Deal experience
4 deals
This loan scenario was submitted by a Broker
Property Details
State
Ohio
Loan Details
Additional Loan Information
Buying a property that's in default. It is valued at $65,000 and I can purchase it for $25,000. It is occupied by a long-term tenant with three people in the household. The rent is $600 with the potential to increase to $700. The property is in good condition. It has three bedrooms with a full basement and a 1-car detached garage. Already in contract. Property located in Columbus, OH 43211. Will hold as a rental. 6 month loan duration.
Status
Closed
Created
April 16, 2020 - 2:55pm
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