Deal Details
Private Loan Type
Residential Fix and Flip
Approx. Funding Date
08/11/2018
Property Type
Single Family Residence
Property City
Waldorf
Property State
MD
Lien Type
1st Mortgage
Payment Type
Interest Only
Purchase Price
$173,000
Renovation Budget
$40,000
After-Repair Value
$320,000
Deal Summary
Mofin Lending, a direct lender, funded a $195,700 1st lien position fix and flip loan for a single-family home in Waldorf, Maryland. The purchase price was $173,000 and the rehab budget was $40,000. The estimated after-repair value was $320,000. The initial loan amount was $155,700, the hold-back amount was $40,000, and the total loan amount was $195,700. This experienced Borrower had a FICO score of 637. This SFR fix and flip loan was funded in August 2018.
Funded By
MoFin Lending
Direct Lender for Real Estate Investors