Loan amount
$72,500
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$120,000
{PP:$74,500}
LTV
60%
{LTV}
Property type
Condo
Borrower Details
Credit score
590
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Fairfield Bay
State
Arkansas
Loan Details
Purchase price
$74,500
Down payment
$2,000
Additional Loan Information
Condo in growing resort type community. Close large lake to Little Rock and Conway for boating,, fishing,, outdoor activities hiking climbing etc..
Plan to reside in for now, but also future use as a rental asset. Doesn't need a ton of work, just some basic updating. I will live in unit while working on it.
Fairfield Bay is fast growing area just north of Conway and Little Rock. Many people keep these condos for vacation getaways to the lake from the city, and the rental possibilities are both short and long term and these units are not cookie cutter floor plans, so their character lends to renting easily.
Plan to reside in for now, but also future use as a rental asset. Doesn't need a ton of work, just some basic updating. I will live in unit while working on it.
Fairfield Bay is fast growing area just north of Conway and Little Rock. Many people keep these condos for vacation getaways to the lake from the city, and the rental possibilities are both short and long term and these units are not cookie cutter floor plans, so their character lends to renting easily.
Status
Open
Created
July 8, 2021 - 1:07pm
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