Loan amount
$66,500
Loan type
Purchase {Construction}
Property value
$65,006 {PP:$50,000}
ARV
102% {ARV}
Property type
Single Family
Credit score
552
Deal experience
None
This loan scenario was submitted by a Broker
No
City
Matlock
State
Washington
Purchase price
$50,000
Down payment
$3,500
Cost of improvements
$20,000
Estimated property value after repairs
$65,006
Additional Loan Information
My project is going to be a primary residence for me and the property is a fixer upper. The current status is that I have found a property that is located in a rural area surrounded by green diamond property. The pack is 0.25 acres with a stream located in the back of the property and it is a great place for having the secluded lifestyle that I have and is perfect for having my animals being able to roam freely like they have been. The process I am at with this is the part of finding a lender that is willing to help finance this for me. I am a first time home buyer and am trying to get a good history going without any available options or any willing party to go out on a whim and finance this deal. I have a great reference that can vouch for my payment history with my rental payments for the property I was renting for 8 years (2 of which I was making the payments) prior to the property being sold and now I have to relocate with my animals which are my family. I currently have done research on what's needed for this project to be successful and to make the needed improvements to make this parcel worth more.
Status
Created
February 18, 2024 - 8:51am

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