Listing photoEast Weymouth, MA 02189 · MLS 73589372
"Property Will Not Qualify For Conventional, FHA, or VA Financing."
193 Lake St #4 is a 2-bedroom, 1-bath home in East Weymouth, Massachusetts listed at $250,000 with 800 square feet, built in 1985. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with 1 to 2 completed projects and a 740 score puts 10% down ($25,000), we fund the $88,000 renovation estimate in draws, and the loan closes in 2 weeks. The down payment steps with experience, credit and the size of the renovation. See every hard money opportunity in Massachusetts or our Massachusetts hard money lending page.
From the listing. ESTATE SALE! Property Will Not Qualify For Conventional, FHA, or VA Financing. 2-bedroom townhouse requiring significant renovation, priced accordingly. Sold as-is.
Preset with the list price and our rough renovation estimate. Change your score, your experience, the budget or the after-repair value and the numbers below move with them. Nothing is pulled and nothing is saved.
| Item | Fix and flip: 10% down | |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | |
| Buyer down payment | $25,000 (10%) | |
| Loan at closing | $225,000 | |
| Full renovation, rough estimate* | We fund $88,000 | |
| Total loan | $313,000 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($4,695) | |
| Appraisal | Required | |
| Estimated monthly interest | $2,606 at full draw | |
| Cash to close, rough estimate | $34,085 | |
Rough estimates at the list price of $250,000 for a 740 score and 1 completed project. This is not a commitment to lend.
*Every figure on this page is a rough estimate. The renovation budget is a super rough placeholder at $110 per sq ft, not a bid or an inspection; get your own contractor numbers before you offer. Indicative estimate for discussion, not a commitment to lend. Business-purpose loans to investors only; final terms are set at submission. Fix and flip loans are sized on an appraisal and must stay under 75% of after-repair value. 10% down is for experienced investors; first-time flippers put 20% down. Fix and flip fees include administration, documents, legal, draw inspections and servicing. Title, escrow and taxes are not included.
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Cash or hard money only"This house will not qualify for conventional financing."
Cash or hard money only"Property will not qualify for traditional financing; cash or renovation/rehab financing only."
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