Loan amount
$210,000
Loan type
As-Is Property Value
$255,000
LTV
83%
{LTV}
Property type
Single family home
Borrower Details
Credit score
575
Deal experience
20 deals
This loan scenario was submitted by a Broker
Property Details
State
Tennessee
Loan Details
Additional Loan Information
New build on 15 acre property. Property was purchased for $70K through a friend who is holding the lien. Loan is to refinance the existing lien and for the construction budget of $140K. Timeline of 4-6 months. Post-value $255K. Property located in Ripley, TN. Plan to owner-occupy. We have an approval for a conventional loan up to $220K so I would say no more than 12 months needed on the loan. (amended re-submission)
Status
Closed
Created
August 3, 2020 - 11:13am
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