LOAN SUMMARY | 116 66th St S, Birmingham, AL 35212
BORROWER
Purchase & Renovation |
Purchase & Renovation |
The borrower has advised that the closing has taken place.
GROUNDFLOOR has received a payoff request good through May 16, 2022. Please keep in mind closing dates are subject to change.
The borrower has advised that final repairs are in progress.
The borrower has advised the property is currently under contract, with an expected closing date of May 13, 2022. Please keep in mind closing dates are subject to change.
The borrower has advised the property is actively listed on the market.
The borrower has advised the following renovations are complete or in progress:
Kitchen and Bath Countertops:100%
Plumbing fixtures, faucets:90%
Plumbing trim:100%
The borrower has advised the following renovations are complete or in progress:
The borrower has advised the following renovations are complete:
The borrower has advised that flooring and crown molding are complete.
The borrower has advised that renovations are nearing completion.
The borrower has advised the following renovations are complete or in progress:
The borrower has advised that sheetrock and window installation is complete.
The borrower has advised that renovations are ongoing.
The borrower has advised the following renovations are complete:
The borrower has advised that exterior painting and siding is in progress.
The borrower has advised that the following updates are complete: Cabinets, porch and walkway were repaired.
The borrower has advised the following renovations are complete or in progress:
FINANCIAL OVERVIEW
After Repair Value (ARV)
$180,000
Total Project Costs
$104,240
$75,760
GROUNDFLOOR
$93,790
$10,450
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$54,000
Purchase Date
08/31/2021
Loan To ARV
52.1%
Loan To Total Project Cost
90.0%
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Grade Factors
The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
Quality of Valuation Report
Skin-in-the-Game
Location
Borrower Experience
Borrower Commitment
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VALUATION REPORTS
As Complete (ARV)
$180,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps
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