Cash-Out Refinance
Posted 1mo agoCash-out refi on single family, Columbus
$420,000
Location
Columbus, OH 43215
Target rate
11.30%
Term
9 mo
Property type
Single Family
Property & underwriting
- Occupancy
- Non-owner occupied
- Units
- 1
- Lien position
- First lien
- As-is value
- $742,000
- LTV (as-is)
- 56.6%
- Purchase price
- $647,000
- After-repair value
- $909,000
- Loan-to-ARV
- 46.2%
- Rehab budget
- $104,000
- Existing liens
- $126,000
- Exit strategy
- Refinance with bank takeout
- Borrower experience
- 6-15 deals completed
- Credit score range
- 700-749
- Borrowing entity
- Limited Partnership
- Funding timeline
- 45-60 days
- Additional collateral
- Single Family at Columbus, OH
Use of funds
Purchase
Deal summary
Cash-out for next acquisition on a single family in Columbus, OH. Borrower is seeking $420,000 at up to 11.3% for 9 months. Sell after renovation.