Loan amount
$340,000
Loan type
As-Is Property Value
$560,000
LTV
61%
{LTV}
Property type
Single family home
Borrower Details
Credit score
731
Deal experience
3 deals
This loan scenario was submitted by a Broker
Property Details
State
Texas
Loan Details
Additional Loan Information
Bridge loan. I am wanting to purchase this home and fix it up to live in. Then sell my property located in Magnolia, TX 77354. I plan on using the money from that sale to put towards refinancing the bridge loan. New property located in Willis, TX 77354. It is livable now, but not enough for a conventional loan. Current home worth $393K and owe $250K. Purchase price $325K. Renovation budget $60K. ARV $420K. Plan to refinance within 3-4 months. Already in contract to purchase.
Status
Closed
Created
August 12, 2020 - 12:00pm
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