Loan amount
$2,105,000
Loan type
Purchase
{Construction}
After Repair Value
$5,200,000
{PP:$405,000}
ARV
40%
{ARV}
Property type
Single Family
Borrower Details
Credit score
720
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Katy
State
Texas
Loan Details
Purchase price
$405,000
Down payment
$300,000
Cost of improvements
$2,000,000
Estimated property value after repairs
$5,200,000
Additional Loan Information
New Construction of SFR. I purchased the lot 2yrs ago for $405,000, the lot is currently is worth $550,000 and I owe $200,000 on the lot. I need $2,000,000 for construction costs
The ARV will be $5,200,000. I have a buyer to purchase the finished home for $3,800,000. I also have an experienced builder I'm using for construction.
The ARV will be $5,200,000. I have a buyer to purchase the finished home for $3,800,000. I also have an experienced builder I'm using for construction.
Status
Open
Created
July 8, 2023 - 4:55pm
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