Deal Status

Active

Property Address

6892 nw 169th street

Hialeah, Florida

33015

Requested Loan Amount

157500

Loan to Value

70

Loan Term

360

Lien Position

1st

Collateral Type

Residential Property

Exit Strategy

Sale of Subject Property

Property Type

Condominium

Number of Bedrooms

2

Number of Bathrooms

2

Property Occupied

No

Loan Type

Refinance

Property Sq. Footage

1250

Current Market Value

225000

Existing Mortgages

  • 1st

Mortgage 1 Balance

136000

Equity Cash Out

Yes

Equity Cash Out Purpose

Personal Use

Equity Cash Out Details

Payoff of First Mortgage is a Hard Money Lender: Equity Cash Out of around $25k for reserves as it was a fix and flip and used all savings to fix this Condo which is now rented for $1,600 a month

Appraisal

Yes

Appraisal Date

03/15/2019

APN Parcel ID

30-2014-023-0320

Will additional properties be collateralized?

No

Borrower Entity

Individual(s)

Borrower Credit Rating

Poor

Comments

Borrower Credit Score is slow Primary is 605 and secondary is 528 due to investing all savings into this property owe balance on other accounts that need to be repaid with the cash out. Just asking 70% LTV of conservative $230,000 value. Similar properties are listed for $240,000

First Name

Miguel

Last Name

Planas

Company

RichPort Capital

Role

Mortgage Broker

Location

High Point
North Carolina
USA