Loan amount
$332,000
Loan type
Refinance {Fix&Flip}
After Repair Value
$475,000
ARV
70% {ARV}
Property type
Single Family
Borrower Details
Credit score
530
Deal experience
28 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Huntsville
State
Alabama
Loan Details
Current mortgage balance
$322,000
Cost of improvements
$10,000
Estimated property value after repairs
$475,000
Additional Loan Information
This is a home in a highly desirable area of Huntsville and we purchased it about 8 months ago from an estate. We are about 4 weeks away from completion and ready to list it. We purchased it for 225k and have put about 150k in it. We were held up by the electrician and had to fire him and start over with a new one. This delayed the project about 90 days. The loan is coming due on 12/31/22.
Status
Created
October 28, 2022 - 8:28am

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