The borrower is using the funds to purchase the subject SFR investment property. They intend to complete renovations to the property. Upon completion, the Borrower intends to payoff the mortgage through refinancing with traditional financing.
loan overview
$456,000
loan priority
1st. Mortgage
loan type
Purchase
loan to value (LTV)
60%
appraisal value
$760,000
interest rate %
Sub 10%
term length (months)
6 months
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