Loan amount
$120,000
Loan type
As-Is Property Value
$700,000
LTV
18%
{LTV}
Property type
Single family home
Borrower Details
Credit score
740
Deal experience
8 deals
This loan scenario was submitted by a Broker
Property Details
State
California
Loan Details
Additional Loan Information
Looking to purchase and renovate property then hold as a vacation rental. Purchase price $235K. Renovation budget $100K. 3 month timeline. ARV $700K. Estimated monthly rental income $7K. Not yet in contract. Property located in Cotati, CA 94931. Will refi in 6 months. I can use my primary residence, located in the same town, as collateral. It is worth $400K and I currently owe $118K.
Status
Closed
Created
September 2, 2020 - 12:45pm
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