Mortgage lead for Residential loan in Boyd, TX, 76023

Loan Request for Residential loan in Boyd, TX, 76023

Request #3718082 by Lender

Date Posted

3/11/2025 1:45:16 PM

Property at

Boyd, TX, 76023, USA Show Map

Borrower at

Property Type

Residential

Property Value

$500,000

Purchase Price

$500,000

Loan Request

$350,000

LTV

70 %

Credit Rating

720-739

Net Worth

$500,000 - $1,000,000

Loan Purpose

Property Purchase

Purpose

Please - no brokers, direct private/hard money lenders only.

I need an asset-based purchase loan for my borrower as indicated below:

Purchase price: $280,000
Rehab: $124,000
ARV: $500,000
As-is Value: $305,000

The borrower is a long standing buyer (20+ years) of residential and commercial fix and flip properties. In the last 36 months he has successfully closed and fix/flipped over a dozen projects. His brother is a General Contractor so he has great control of the expenses and materials to rehab this property. I have a recent appraisal from Richer Values confirming these as-is and ARV Values.

Significant compensating factors:

- Although rural, Boyd Texas is located only about 30 miles from the Dallas–Fort Worth metroplex and is located in the fastest growing county in the DFW area; Wise County.
- Borrower is well-experienced with over 20 years of fix/flip experience
- Borrower has liquid reserve balances of approximately $400,000
- Borrower’s brother is a general contractor and has an equally-long history of rehab experience

These strengths are presented for you to approve the purchase file presented.

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Loan Request for Residential loan in Boyd, TX, 76023