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Residential Post Detail
NC Residential zoned property w/building 8/13/2019 1:42:45 PM  Broker Location: TX/75087 Other/Niche/00/
PostID: 50443     Status: Closed  
Property Type Unique property 
Units  
Occupancy  
Purpose Rate & Term Refi 
FICO 642 
DTI  
Doc Type  
Product Type  
Lien Position First 
Appraised Value: $757,000 
Loan Amt 1st: $375,000 
Loan Amt 2nd:  
LTV: 50% 
CLTV:  
Keywords: Lakefron NC Residential zoned
General Notes: Borrower - 642 credit – seeks Rate & Term ReFi or a bridge loan of $375,000, (50% LTV). Exit strategy is to refinance. Subject property is a nice 3.772 acres of lakefront land with a 3,381-sf metal building. The property is used by the borrower as storage for his business. Building has electricity, but no water. Property sits 20 miles north of Charlotte, NC. Balance Owed: $350,000 Appraisal Value 2018: $757,000 Iredell Co. Value: $643,900 Zillow Value: $773,268
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