Mortgage Grapevine

Loan scenario: IL, $113,600, 814, 63% LTV, Purchase, full, NOO

State: IL

Amount: 113,600

Property type: SF

Documentation: full

FICO: 814

LTV: 63%

Occupancy: NOO

Loan purpose: Purchase


My company is working with an outstanding borrower on this one as evidenced by their credit score. We handle all aspects of the deal to get it refinanced so we do the rehab and the property management. The borrower lives in CA yet the property is in Chicago, IL so that might be a challenge for some of you but the risks are offset by our company being in control of everything. We have been in business for over 4 years and have done around 350 transactions. This is an investment property for the borrower whereby they will refi into a permanent loan for which they've already been approved and will collect rent from a HUD tenant. The borrower will put down $5K and will pay the closing costs as well. Call me or email me:

Shaun
Equitybuild
215-407-5777
shaun@equitybuild.com
by Equitybuild November 4, 2009 2:05 PM

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