Loan amount
$119,000
Loan type
Purchase {Rent&Hold}
As-Is Property Value
$422,000 {PP:$169,000}
LTV
28% {LTV}
Property type
Single Family
Borrower Details
Credit score
620
Deal experience
12 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Portland
State
Oregon
Loan Details
Purchase price
$169,000
Down payment
$50,000
Additional Loan Information
My husband's mother is elderly and she is struggling to make means end, we are afraid she might lose the house she's own for almost 40 years. We want to pay off her mortgage to buy the house from her and then move in a family friend to help her out around the house. They would both pay rent which would make the payment twice over. We could also refinance in a year or so for a different loan structure once we own the house and the equity.
Status
Created
December 10, 2023 - 7:55am

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