Loan amount
$550,000
Loan type
As-Is Property Value
$900,000
LTV
62%
{LTV}
Property type
Single family home
Borrower Details
Credit score
660
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Alabama
Loan Details
Additional Loan Information
Currently renting, have a signed purchase agreement. My credit is right on the boarder of buying with traditional loan. I think the house has huge potential and have lots of work lined up but need to finish the purchase. I would like to still live in the house while making improvements. Purchase price $579K. Putting $69K down. Renovation budget $75-125K. Renovation timeline depends on availability of funds. I have it broken down into 3 projects (main level/kitchen Reno, exterior/second level and master suite Reno) and with traditional lending, I was planning on doing 1 project each year. ARV $900K-1M. Property located in Mountain Brook, Alabama 35223.
Status
Closed
Created
March 29, 2020 - 5:24pm
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