Loan amount
$480,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$960,000
{PP:$720,000}
LTV
50%
{LTV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
623
Deal experience
2 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Fort Lauderdale
State
Florida
Loan Details
Purchase price
$720,000
Down payment
$240,000
Additional Loan Information
Purchase Price of $720,000 includes the $40,000 for updated repairs
9 unit complex that will debt service to pay mortgage 720,000 at 10% IO being $6,000 and the Seller held Second Mortgage of $240,000 at 5% IO of $1,000.
Total Rents collected monthly is $9,900 [1/1 @ $1,100 rental]
9 unit complex that will debt service to pay mortgage 720,000 at 10% IO being $6,000 and the Seller held Second Mortgage of $240,000 at 5% IO of $1,000.
Total Rents collected monthly is $9,900 [1/1 @ $1,100 rental]
Status
Open
Created
January 30, 2021 - 4:47pm
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