Loan amount
$300,000
Loan type
Refinance
{Fix&Rent}
After Repair Value
$600,000
ARV
50%
{ARV}
Property type
Multi-Family 1-4 Units
Borrower Details
Credit score
580
Deal experience
10 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
Chicago
State
Illinois
Loan Details
Current mortgage balance
$0
Cost of improvements
$300,000
Estimated property value after repairs
$600,000
Additional Loan Information
owes nothing wants to finish 2 of the 3 units and have some cash to finish a fe of the other 10 properties he owns outright. looking for 50% ltarv and all closing costs pulled from proceeds. taxes insurance all current 1 tenant with lease in place. 2 leases signed for Oct 1st move in .. will be collecting 7500 mo on all 3. Looking to do a bridge loan and he will refinance when his credit score goes back up after selling another of his properties and pays off the debt on the credit cards. he is not past due on anything LOOKING TO GET REHAB AND 240K MINUS CLOSING COSTS PULLED OUT HE OWES ZERO ON THE PROPERTY
Status
Closed
Created
August 4, 2025 - 3:44pm
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