Loan Request for Residential loan in Redlands, CA, 92373

Request #3705263 by Lender

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Date Posted

10/2/2024 3:36:22 PM

Property at

Redlands, CA, 92373, USA Show Map

Borrower at

Property Type

Residential

Property Value

$1,300,000

Amount of Existing Loans

$550,000

Loan Request

$1,000,000

LTV

76.92 %

Credit Rating

680-699

Loan Purpose

Refinance and Construction

Purpose

1. **After-Repair Value (ARV)**: $1,300,000 2. **Maximum Loan-to-Value (LTV)**: Typically 80% 75% ### Calculation: 80% of $1,300,000 = $1,040,000 75% of 1,300,000=$975,000 From this potential HELOC amount, we subtract the short sale payoff: $1,040,000 - $550,000 (mortgage payout) = $490,000 (available equity for HELOC)

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Loan Request for Residential loan in Redlands, CA, 92373