The borrower is using the funds to purchase and completely renovate this residential property for investment purposes. Borrower intends to payoff the mortgage by selling the subject property upon completion of construction.
loan overview
$1,000,000
loan priority
1st. Mortgage
loan type
Purchase
loan to value (LTV)
57%
appraisal value
$1,750,000
interest rate %
Sub 10%
term length (months)
24 months
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