The borrower is using the funds to make extensive improvements to the property, including new roofs. Borrower intends to payoff the mortgage by refinancing with traditional financing.
loan overview
$850,000
loan priority
1st Mortgage
loan type
Refinance
loan to value (LTV)
24%
appraisal value
$3,510,000
interest rate %
Sub 10%
term length (months)
24 months
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