Loan amount
$699,000
Loan type
Refinance
{Construction}
After Repair Value
$1,040,000
ARV
67%
{ARV}
Property type
Single Family
Borrower Details
Credit score
700
Deal experience
1 deal
This loan scenario was submitted by a Broker
Yes
Property Details
City
Flower Mound
State
Texas
Loan Details
Current mortgage balance
$149,000
Cost of improvements
$550,000
Estimated property value after repairs
$1,040,000
Additional Loan Information
The Borrower took out a construction loan about 4 months ago, to build a home.
Unfortunately, the city delayed her project. through no fault of their own. At this time the City is back on track
to complete what was needed on their part, but the borrower feels that they will run out of time. And wish to refi the construction loan with another lender.
Unfortunately, the city delayed her project. through no fault of their own. At this time the City is back on track
to complete what was needed on their part, but the borrower feels that they will run out of time. And wish to refi the construction loan with another lender.
Status
Open
Created
December 1, 2022 - 4:59pm
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