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60% LTV 1st, Austin TX SFR w/ Approved ADU
Purchase Price - $400,00 Down Payment - $60,000 Purchase Loan - $340,000 Rehab - $235,000 Total Loan - $575,000 After Repair Value - $900,000 -$1,000,000 Unit A - 1,550 Sq Ft. - $580,000 Unit B- 850 Sq Ft. - $380,000 901 Spence Street is located in the East Cesar Chavez neighborhood of Austin, Texas. East Cesar Chavez a residential and commercial neighborhood immediately to the East of downtown Austin, Texas, in the desirable zip code 78702 which is undergoing strong gentrification. 901 Spence Street is 1.1 miles from downtown Austin and the demand for housing in the neighborhood has average days on market under 30 days. The majority of the neighborhood is single family residential, however the zoning provides for Accessory Dwelling Units (ADUs) to be constructed. As such, investors are flocking to the 78702 zip code to purchase homes and construct an additional unit and condo the unit into an additional home to be sold.The project calls for a moderate rehab requiring minor structural changes that include reconfiguring of the attic which will add approximately 380 sf of additional living space to the home. Standard upgrades to the exterior as well as the interior (see complete construction budget on Page 6) of the current property will be completed. As permitted by city ordinance 25-2-774 an Accessory Dwelling Unit (ADU) will be constructed on the back portion of the parcel, this unit will be 850 sf.
50% LTV; 686 FICO; Cash-Out
California
Our borrower, with relatively good credit scores, used the proceeds of our mortgage loan against his...
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Price:$135k
UPB%:100%
Rate:8%
LTV:50%
YTM:N/A
9% LTV; Cash-Out Refi of a
California
Our borrower used the proceeds of our extremely low loan-to-value mortgage loan against his free and...
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Price:$150k
UPB%:100%
Rate:7%
LTV:11%
YTM:N/A
65% LTV; Cash-Out Refi of a
Texas
Our borrower used the proceeds of our mortgage loan against his N/O/O investment property to grow...
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Price:$133k
UPB%:100%
Rate:9%
LTV:65%
YTM:N/A
49% LTV; Rate & Term
California
Our repeat borrower used the proceeds of our mortgage loan against his N/O/O SFR to satisfy the...
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Price:$329k
UPB%:100%
Rate:7%
LTV:49%
YTM:N/A
North Carolina - 12 payments
North carolina
This OO loan has made 12 payments in the last 12 months and their payments are rolling 6 months...
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Price:$49k
UPB%:82%
Rate:6%
LTV:61%
YTM:14%

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