Loan amount
$113,000
Loan type
Refinance {Fix&Flip}
After Repair Value
$190,000
ARV
59% {ARV}
Property type
Single Family
Borrower Details
Credit score
640
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Fort Smith
State
Arkansas
Loan Details
Current mortgage balance
$63,000
Cost of improvements
$50,000
Estimated property value after repairs
$190,000
Additional Loan Information
Bought this house on contract from the owner, for $70,000 with owner financing for 8 months, with $7,000 down and $500 per month. It's currently a 2 bed. 1 ba. And 1430 sq ft. However, we are adding another bedroom and bathroom upstairs in the attic area, plus adding another bathroom between the two bedrooms, and keeping the current bathroom as a half bath. We are also looking to add a dormer in the attic to accommodate the bathroom for the upstairs bedroom. Replacing all cabinets, fixtures, lighting, and flooring throughout.
Status
Created
August 3, 2023 - 6:29pm

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