Loan amount
$400,000
Loan type
As-Is Property Value
$680,000
LTV
59%
{LTV}
Property type
Single family home
Borrower Details
Credit score
680
Deal experience
5 deals
This loan scenario was submitted by a Broker
Property Details
State
New York
Loan Details
Additional Loan Information
I've invested around $850K in the property. Have a mortgage of $473K I want to refi; just looking for a loan of around $400K, I will pay the other $73K. Single family house on large piece of land with proposal for 30 lot subdivision. Area is not rural. Fix and flip or fix and refinance and hold. Property located in Monroe in the Town of Blooming Grove. Once subdivided the estimated value is around $2 million. There is currently a single family home on the property that I am fixing up - already have someone to rent it for $3,000 per month starting once rehab is complete (October). Loan duration of one year.
Status
Closed
Created
September 6, 2020 - 8:53am
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