PML or HML needed -- closing 1/18
hey y'all. I have a property under contract in South Carolina. I am a newbie and need funding. If you can help, let me know
PP: 60K
Rehab: 40k
Exit strategy : sell
Termite inspection is today & home inspection is tomorrow. We are closing 1/18.
Looking for
Most Popular Reply
Hi Sarah,
Congratulations on your first deal!
When you say "sell" can you include ARV(after repair value) and what comps you used in the neighborhood to come up with that value?
It would also help to describe what exactly is being rehabbed, what the current property condition is and how much money you are willing to put into the deal( most HML require 20% or cross collateralization
This is from my experience working with HML as I have a few underwriters i work with, hope this helps