Loan amount
$574,000
Loan type
As-Is Property Value
$695,000
LTV
83%
{LTV}
Property type
Rental portfolio
Borrower Details
Credit score
755
Deal experience
5 deals
This loan scenario was submitted by a Broker
Property Details
State
Florida
Loan Details
Additional Loan Information
Purchase a portfolio of 5 duplexes (10-units) all units with stable tenants, Gross rental income $92,580 / Operating Expenses $15,061, $135K each. As-is value $695,000, offer price $675,000, ARV $770,000. Purchase agreement signed. I need 85% LTV loan to make purchase or a gap purchase loan 2nd mortgage for remaining 10% of purchase price. I have a 755 credit score, properties will be under Professional Property Management already contracted.
Status
Closed
Created
June 14, 2020 - 8:38am
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