Loan amount
$251,500
Loan type
Purchase
{Fix&Flip}
After Repair Value
$359,000
{PP:$225,000}
ARV
70%
{ARV}
Property type
Single Family
Borrower Details
Credit score
680
Deal experience
15 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Houston
State
Texas
Loan Details
Purchase price
$225,000
Down payment
$45,000
Cost of improvements
$71,450
Estimated property value after repairs
$359,000
Additional Loan Information
New Fix & Flip Loan Scenario:
*Property Details:
3 Beds
2 Baths
1963 Built
1,898 Sq.Ft.
garage 2 Car
10,111ft. Lot
*Loan Type:
Fix and Flip
*Exit Strategy:
Sell when Renovations are Complete or Refinance an Add to Portfolio
*Closing Date:
01/20/2023
*Purchase Price:
$225,000.
*Rehab Budget:
$71,450.
*ARV:
$359,000.
*Loan Amount Requested:
$273,950. [$225,000 (x 90%) + $71,450 (x 100%)= $273,950. ]
*Est. Monthly Rental Rate:
$2,350.
*Monthly HOA:
$0 (No HOA)
*Monthly Taxes:
$635.
*Monthly Insurance:
$227
*Title to Be Held In LLC Entity
*Borrowers Estimated FICO:
690
*Borrowers Available Cash /Equity:
$196,558
*Investor Experience:
15+ (Deal in 36 Months)
*Property Details:
3 Beds
2 Baths
1963 Built
1,898 Sq.Ft.
garage 2 Car
10,111ft. Lot
*Loan Type:
Fix and Flip
*Exit Strategy:
Sell when Renovations are Complete or Refinance an Add to Portfolio
*Closing Date:
01/20/2023
*Purchase Price:
$225,000.
*Rehab Budget:
$71,450.
*ARV:
$359,000.
*Loan Amount Requested:
$273,950. [$225,000 (x 90%) + $71,450 (x 100%)= $273,950. ]
*Est. Monthly Rental Rate:
$2,350.
*Monthly HOA:
$0 (No HOA)
*Monthly Taxes:
$635.
*Monthly Insurance:
$227
*Title to Be Held In LLC Entity
*Borrowers Estimated FICO:
690
*Borrowers Available Cash /Equity:
$196,558
*Investor Experience:
15+ (Deal in 36 Months)
Status
Closed
Created
January 12, 2023 - 6:42am
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