Loan amount
$545,000
Loan type
Purchase {Rent&Hold}
As-Is Property Value
$600,000 {PP:$550,000}
LTV
91% {LTV}
Property type
Single Family
Borrower Details
Credit score
500
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Windermere
State
Florida
Loan Details
Purchase price
$550,000
Down payment
$5,000
Additional Loan Information
Looking for a direct lender for a owner occupied that current owner wants to sell. Been renting from management company and has since 2017 entered in rental contract. Have great payment history which can be verified. House is 4/3/3 in upscale Windermere, FL. Currently l have 2 paying monthly rent room mates. I have 2 more rooms l would also rent to project more earnings from the investment. I converted an area as a bedroom and that room is currently occupied. The house is over 2800 Sq. Ft. so very large. I work full time so l have income. My lease ends January 9th so l would look at doing a 1-3 year bridge loan without pre payment penalty. please text only due to the nature of my job l cannot take calls but will reply via text to follow up with a call back to you. I only just got a letter from the company l rent from informing me about non renewal due to owner wants to sell. The owner has 2 houses in the subdivision. She chose to sell one to my disappointment with little time to get my credit score back up. Post covid it was in the high range and could qualify for really good rates. If you could help or suggest any direct lenders that could purchase the home and l keep making payments but to them instead and l would purchase back from them and also l would purchase property insurance.
Any help on this matter is greatly appreciated. Thank you kindly!
Status
Created
November 1, 2021 - 8:52am

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