LOAN SUMMARY | 7506 Minnesota Avenue, St. Louis, MO 63111
Per borrower, they were approved for the permit.
Per borrower, permitting process is ongoing.
Per borrower, City Board submitted formal written approval. Permitting process is ongoing.
The borrower has advised they received verbal approval from the variance board. Waiting to receive that approval in writing before continuing the permitting process.
The variance meeting has been rescheduled to February 15, 2023.
The borrower has advised that a new variance meeting with the city is scheduled for January 11, 2023.
The variance board members pushed making a decision back for 60 days and they requested that we provide a letter of support from the alderman by the next meeting. The letter of support was requested. Pending letter from the alderman.
The borrower has advised that the variance meeting remains scheduled for November 1, 2022.
The borrower has advised that a variance meeting with the city is scheduled for the week of November 1, 2022.
The borrower has advised that the variance request is still pending.
The borrower has advised that a variance request is in progress. Once the city approves the request, renovations will resume.
After Repair Value (ARV)
Total Project Costs
First Lien Loan
Loan To ARV
Loan To Total Project Cost
The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
Quality of Valuation Report
As Complete (ARV)
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps