Loan amount
Loan type
As-Is Property Value
72% {LTV}
Property type
Single family home
Borrower Details
Credit score
Deal experience
3 deals
This loan scenario was submitted by a Broker
Property Details
South Carolina
Loan Details
Additional Loan Information
Currently owned home is for sale for $179K with a mortgage balance of $121K, leaving $58K in equity. Looking to purchase a $250K 4bed/3bath home which we will occupy and partially rent out on airbnb/vrbo/etc, projecting an annual revenue of $72K before taxes. Seeking a short-term loan to purchase the property while we wait for the sale of our house. Will refinance in to a traditional mortgage once the sale is done and income from rentals can be documented.
July 29, 2019 - 6:28pm

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