The borrower is using the funds to purchase and improve the subject residential property for short term rentals. Borrower intends to payoff the mortgage through refinancing with traditional financing.
loan overview
$812,500
loan priority
1st Mortgage
loan type
Purchase
loan to value (LTV)
60%
appraisal value
$1,400,000
interest rate %
term length (months)
24 Months
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