The borrower is using the funds to purchase this residential property for short term rental. Borrower intends to payoff the mortgage by refinancing with traditional financing.
loan overview
$649,000
loan priority
1st Mortgage
loan type
Purchase
loan to value (LTV)
55%
appraisal value
$1,180,000
interest rate %
Sub 10%
term length (months)
6 months
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