Loan amount
$20,000
Loan type
As-Is Property Value
$116,000
LTV
18% {LTV}
Property type
Single family home
Borrower Details
Credit score
515
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Florida
Loan Details
Additional Loan Information
I currently own a house and a vacant land plot which I am putting up as collateral for this loan. Land is paid off. House has a $167K mortgage. ‚ÄčLand purchased at $12K when I refinanced last Quicken valued it at $25K. House was $220K and appraised at last refi at $250K. I've come across houses that need rehab but are as cheap as $8K in Jacksonville. I know that area and a lot of people and I know I can fix these up then and sell them. A loan of $20K would cover the purchase of the house and the renovation.
Status
Created
August 7, 2019 - 9:44am

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