Loan amount
$1,657,000
Loan type
Refinance {Cash-Out}
As-Is Property Value
$2,700,000
LTV
61% {LTV}
Property type
Single Family
Borrower Details
Credit score
570
Deal experience
2 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Los Gatos
State
California
Loan Details
Current mortgage balance
$1,257,000
How much cash-out are you looking for?
$400,000
Additional Loan Information
Looking for a HELOC on our investment property that brings in $10,950 a month in rents to consolidate credit cards that were used for another investment property flip project. That recent flip property is currently for sale and will have $400k in equity once sold. In the meantime, we are looking to pay off the cards that are bringing down our credit scores. We have no late payments, just high credit cards. We also have over $1M in equity on our primary home.
Status
Created
December 5, 2023 - 4:21pm

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