Loan amount
$384,000
Loan type
Refinance
{Cash-Out}
As-Is Property Value
$640,000
LTV
60%
{LTV}
Property type
Other Commercial
Borrower Details
Credit score
550
Deal experience
None
This loan scenario was submitted by a Broker
Yes
Property Details
City
Vanita
State
Oklahoma
Loan Details
Current mortgage balance
$247,000
How much cash-out are you looking for?
$137,000
Additional Loan Information
I am requesting a LTV of 60% which is $384,000 USD. My credit score is jumping with a rapid rescore that has been started.
Use of funds:
1) Pay off the mortgage so VCI can be a first position. ($246,533.31) $11,887.74 of the mortgage is on a bank note that that is not reported to the credit agencies.
2) 101,475.16 pay liens and judgements
3) $10,161.53 for finishing construction
Use of funds:
1) Pay off the mortgage so VCI can be a first position. ($246,533.31) $11,887.74 of the mortgage is on a bank note that that is not reported to the credit agencies.
2) 101,475.16 pay liens and judgements
3) $10,161.53 for finishing construction
Status
Open
Created
February 29, 2024 - 4:42pm
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