Loan amount
Loan type
As-Is Property Value
100% {LTV}
Property type
Single family home
Borrower Details
Credit score
Deal experience
10 deals
This loan scenario was submitted by a Broker
Property Details
Loan Details
Additional Loan Information
Request $130,000 for a 4 bedroom 2 bath at 1,089 sq. ft. on 0.65 acres of land with a 2 car garage.
1. Purchase the above mention property that is Foreclose.
2. Offer the bank $80,000 to $90,000 for the property.
3. Utilize the remaining $50,000 for rehabbing the home to bring it up to Illinois property codes by KDE Home Remodeling and Vic’s Home Improvement.
4. My current property is valued at $120,000 with 2 bedroom 1 bath at 826 sq. ft. with an unfinished basement, garage, new roof, all appliance, washer/dryer and laminated flooring throughout the house.
5. Make use of my current home with a balance of $57,358 mortgage with $60,000 of equity.
6. Minus the $60,000 of equity from the $130,000 Hard Money Loan.
7. Leaving a balance of $70,000 to pay the loan in full through US Bank at an interest rate of 4.37500% thereafter. And the 130000 will be paid off in one year or sooner.
8. Low property taxes $5,211/Yr.; Insurance $1,020/Yr.

Also, I am a Stock Market Investor, Digital Currency Investor and receive a monthly Pension from OPM (Office of Personal Management from Washington, DC).
August 6, 2019 - 9:49am

Hard Money Lenders Now Offering Real Estate Investor Loans in Illinois Chicago | Aurora | Naperville | Joliet | Rockford | Springfield Hard Money Loans | Refinance Cash-Out | Purchase | Fix-N-Flip | Commercial | Construction | SBA Business Loans