Loan amount
$765,000
Loan type
Refinance {Construction}
After Repair Value
$1,350,000
ARV
57% {ARV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
750
Deal experience
15 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Springfield
State
Illinois
Loan Details
Current mortgage balance
$265,000
Cost of improvements
$500,000
Estimated property value after repairs
$1,350,000
Additional Loan Information
Sponsers are seeking a refi bridge loan to convert a former student dorm to 8-18 single family apartments (2/3 Bdrom)

they are looking for 500K for reno costs , They will pay off current loan and renovate ,
Status
Created
August 27, 2024 - 2:38pm

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