Borrower looking to take on a fix and flip project with a 12-month purchase and rehabilitation loan for a property located in New Haven, CT. Property was appraised for $350,000 as-is with the ARV projected to be $475,000, for a total return on investment (ROI) of 19.64%. Sponsor on the loan has good credit and sufficient liquidity to meet the reserve requirement. Loan is structured at 89% LTV and 90% LTC.
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