Loan amount
$1,000,000
Loan type
Refinance
{Construction}
After Repair Value
$1,500,000
ARV
67%
{ARV}
Property type
Multi-Family 1-4 Units
Borrower Details
Credit score
580
Deal experience
7 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Canton
State
Massachusetts
Loan Details
Current mortgage balance
$400,000
Cost of improvements
$600,000
Estimated property value after repairs
$1,500,000
Additional Loan Information
New development adjacent to the new 272 luxury unit complex at the Paul Revere heritage site in Canton. Our site was once home to worker housing for the Revere copper mill. Historical approval for demo has been obtained.
The plan is to Demo existing structure and do ground up construction on a beautiful two-family. All required permitting approvals have been obtained. Water and Sewer has been cut and electric and gas disconnected on the existing structure.
Looking for 400k refi, 600k construction. 1.5M+ ARV.
Have plans and 3D renderings available for prospective lender review.
The plan is to Demo existing structure and do ground up construction on a beautiful two-family. All required permitting approvals have been obtained. Water and Sewer has been cut and electric and gas disconnected on the existing structure.
Looking for 400k refi, 600k construction. 1.5M+ ARV.
Have plans and 3D renderings available for prospective lender review.
Status
Open
Created
November 20, 2023 - 5:13pm
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