Loan amount
$400,000
Loan type
As-Is Property Value
$400,000
LTV
100%
{LTV}
Property type
Commercial
Borrower Details
Credit score
760
Deal experience
5 deals
This loan scenario was submitted by a Broker
Property Details
State
Ohio
Loan Details
Additional Loan Information
I want to purchase a property which includes 1.3 acres of land that has a residential house, a building used as a church which I’m the pastor, and another building rented that sells used goods. This will be church owned. I’ll either move into the house as a parsonage or rent it out. Purchase price will be around $400K - I am waiting for the owner to confirm the price. Seeking 100% financing. Not yet in contract. Property located in Carroll, Ohio. Would like 30 year amortized but would refinance as soon as we are able after the initial purchase so a shorter-term loan is possible. The church income ranges $5,000-$5300 a month. Once we take ownership we can get property tax removed being it’s church owned.
Status
Closed
Created
January 30, 2020 - 2:05pm
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