Loan amount
$196,500
Loan type
Refinance {Construction}
After Repair Value
$275,000
ARV
71% {ARV}
Property type
Vacant Land
Borrower Details
Credit score
640
Deal experience
1 deal
This loan scenario was submitted by a Broker
No
Property Details
City
Rush
State
Colorado
Loan Details
Current mortgage balance
$66,500
Cost of improvements
$130,000
Estimated property value after repairs
$275,000
Additional Loan Information
Build a garage utilizing two 40’ hi load containers, grade 35.61 acres with a tractor, cross fence acreage for horse, build out a tiny home 400 square feet, insulate and install a bathroom (permits are in place), build out insulate a small 200 square foot building into a workshop (permits in place), so far we have have brought electricity onto the land (along with two outdoor flood lights covering 20 acres), drilled a well and instead 500 gallon propane tank along with leveling 2 acres thus far with two shells for the building already on site.
Status
Created
May 18, 2021 - 9:11pm

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