Listing photoMattapan, MA 02126 · MLS 73546352
"Due to its condition, it is unlikely to qualify for FHA financing, making it best suited for cash or conventional financing."
22 Corman Rd is a 3-bedroom, 1-bath home in Mattapan, Massachusetts listed at $475,000 with 2,229 square feet, built in 1958. 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 ($47,500), we fund the $100,305 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. Opportunity is knocking at 22 Corman! This 3-bedroom, 1-bath single-family home is full of potential and waiting for the right buyer to bring it back to its former glory. Beneath the years, you'll find beautiful hardwood floors that offer a glimpse of the home's original charm. Whether you're an investor, contractor, or buyer looking to build sweat equity, this is your chance to transform a solid home into something truly special. The property needs updates and repairs and is being sold as-is. Due to its condition, it is unlikely to qualify for FHA financing, making it best suited for cash or conventional financing. Bring your vision, your toolbox, and your imagination.
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 | $47,500 (10%) | |
| Loan at closing | $427,500 | |
| Cosmetic renovation, rough estimate* | We fund $100,305 | |
| Total loan | $527,805 | |
| Rate, interest only | from 9.99% | |
| Points | 1.5 ($7,917) | |
| Appraisal | Required | |
| Estimated monthly interest | $4,394 at full draw | |
| Cash to close, rough estimate | $59,807 | |
Rough estimates at the list price of $475,000 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 $45 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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