Loan amount
$75,000
Loan type
Refinance {Fix&Rent}
After Repair Value
$125,000
ARV
60% {ARV}
Property type
Single Family
Borrower Details
Credit score
500
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
ALTON
State
Washington
Loan Details
Current mortgage balance
$35,000
Cost of improvements
$40,000
Estimated property value after repairs
$125,000
Additional Loan Information
10 ACRES AND CABIN (FATHER PAST AWAY IN PROBATE SIBLINGS IN AGREEMENT) i ALREADY HAVE SOMEONE WHO IS WILLING TO RENT IT AND THE 10 ACRES MY FATHER HAS RENT IT TO OTHER FARMERS IN THE PAST AND WILL BE CONTINUING. AMOUNT OWED ON PROPERTY $35000 SELLING PRICE $65000. AFTER CLEAN PROPERTY DO UPDATES TO CABIN AND GARAGE IT WILL BE A GREAT INVESTMENT. IT IS ALREADY LIVEABLE JUST HAVE TO TO CLEAN PAINT AND SOME LOW REMODELING AND UPGRADES. WANT TO KEEP IN THE FAMILY.
Status
Created
January 15, 2022 - 10:38pm

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