Borrower is a repeat and experienced investor under contract to acquire the subject property for $190K with intentions of spending $25K on renovations before listing the property for resale. Subject is an SFR located in East Hartford, CT. Sponsor has average credit with mid-score of 690 and bank statements reflect sufficient assets to close this deal. Loan structured in accordance with the qualification model. Initial advance of 79.61% LTC & 79.61% LTV.
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