The borrower is using the funds to refinance an existing mortgage for a residential investment condo unit. Borrower intends to payoff the mortgage through refinancing with traditional financing.
loan overview
$462,000
loan priority
1st. Mortgage
loan type
Refinance
loan to value (LTV)
59%
appraisal value
$780,000
interest rate %
10%
term length (months)
12 months
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