Loan amount
$111,000
Loan type
Refinance
{Rent&Hold}
As-Is Property Value
$220,000
LTV
50%
{LTV}
Property type
Single Family
Borrower Details
Credit score
500
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Lawrenceville
State
Virginia
Loan Details
Current mortgage balance
$111,000
Additional Loan Information
I would like to refinance the SFR. Home has 1270 sq ft on 2.5 acres. Payoff 1st and Heloc ($111,000), payoff 4 bills ($34,000), and take $10,000 to put utilities on another lot I own so that I can put another rental home on it. The property that I want to refinance has a current renter for the past two years at $1,250 monthly. I want to raise my credit score and put a second rental in at $1,400 monthly.
Status
Open
Created
April 14, 2024 - 10:01pm
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