Loan amount
$130,000
Loan type
As-Is Property Value
$380,000
LTV
35%
{LTV}
Property type
Single family home
Borrower Details
Credit score
500
Deal experience
11 deals
This loan scenario was submitted by a Broker
Property Details
State
Alabama
Loan Details
Additional Loan Information
Have started building a house but ran out of money. Lot, material, labor all paid in full. House has framing, roof, windows, doors, some plumbing, electrical. Have $130K invested. Should apprise for $380K once completed. Need $135K to finish. Will be owner-occupied. 3-5 year loan duration, then will refinance or sell. I have been in construction for 35 years as a construction supervisor, manager, and a builder owner. Have done 11 houses on my own. Property located in Union Grove, Alabama 35175.
Status
Closed
Created
April 6, 2020 - 9:43am
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