Loan amount
$250,000
Loan type
As-Is Property Value
$600,000
LTV
42%
{LTV}
Property type
Single family homes
Borrower Details
Credit score
700
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Iowa
Loan Details
Additional Loan Information
Building new house on property next to existing property. Both pieces of land are paid for with no mortgage or loans. Current home is worth $300K and will be used as additional collateral. New land was purchased for $60K. I occupy my current home. Plan to convert that to a rental and occupy the new home. New home will also be worth $300K after construction is complete. Alton address but out of town on hwy 60.
Status
Closed
Created
October 2, 2019 - 10:26am
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