The borrower is using the funds to finance the buyout of spouses’ interest in the business. Borrower intends to payoff the mortgage through refinancing with traditional financing.
loan overview
$540,000
loan priority
1st Mortgage
loan type
Refinance
loan to value (LTV)
55%
appraisal value
$975,000
interest rate %
term length (months)
24 Months
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