sample loan proposal

This is a sample of how to properly submit your loan request to a HM lender and get your loan funded.

This shows your lender that you have done your

homework and throughly understand your real estate deal.

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EXECUTIVE SUMMARY

PROJECT DESCRIPTION—R&H Holdings will acquire Lot 15 Blk B Brookhollow Sec 1

known as . The purchase price is $85,000 with the closing

scheduled for 02/25/2010.

After acquisition, R&H Holdings will rehab the above mentioned single family

home and then market it for resale. The home will be a 3 bedroom, 2 bathroom

fully remodeled configuration at 1525 square feet. The finish out will meet or

exceed market for that area, featuring quality materials such as granite counter

tops, hardwood floors and will be the only home in the neighborhood with an in-

ground pool. The fact that we will list the property at the same price point as

average homes in the area, gives us a viably short turn around time and allows

us to move on to the next project.

PROJECT LOCATION— is located in Pflugerville, TX, just two

miles from HWY 1825 in zip code 78660. This provides quick and easy access to

downtown Pflugerville. The home is located in the center of the Pflugerville ISD,

which includes Park Crest Junior High School and Pflugerville High School. It’s also

just minutes away from the downtown Pflugerville shopping and dining area. This

area of Pflugerville continues to be a laid back staple of everyday life with

families, homes and businesses that have been a part of the community for

decades.

PROJECT FINANCIAL SUMMARY—The overall development strategy is to acquire

the property and begin remodeling immediately. The closing date for the

property is on or before February 25th, 2010.

The project capital structure for a phased rehab plan with incremental draws is

based on securing a 12 month, interest only hard money loan in the amount of

$110,000.00. R&H Holdings will have $20,000.00 to contribute to the overall

project costs of $130,000.00 and will be the sole guarantor of the hard money

loan, with total repayment to be finalized on or before February 25th, 2011.

2 | P a g e

AFTER REPAIRED VALUE: $150,000.00

PROJECT COSTS: $130,000.00 TOTAL

$85,000.00 PURCHASE PRICE

$25,000.00 REHAB COSTS

$8,500.00 CLOSING COSTS

$5,200.00 4 MONTHS LOAN PAYMENTS

$6,300.00 CONTINGENCY/INSURANCE

PROJECTED PROFIT: $20,000.00

For the $110,000.00 investment, a 13% annual interest only return is being offered

with 4 months of payments to be figured in up front. As mentioned in the Project

Financial Summary, R&H Holdings does have $20,000.00 to invest in the project;

however, we will consider offering an equity position - subordinate lien position to

majority lender - in the project for 13% (or $2,600.00). The 13% equity position will

be fully paid upon successful execution of ‘exit strategy’ employed; not to

exceed 12 months.

PROJECT EXIT STRATEGIES:

STRATEGY 1:

o Rehab, market and sell

o If goal is not achieved within 6 months, execute ‘Strategy 2’

STRATEGY 2:

o Refinance property through conventional means and pay off hard

money loan

o Give additional 2 months to sell property

Make any necessary price adjustments to move property

o If goal is not achieved within 60 days, execute ‘Strategy 3’

STRATEGY 3:

o Market for rental and add to ‘Buy and Hold’ portfolio. All net

positive cash flow will be directed to 13% equity partner while all

operational diligence will be applied to manage and maintain the

subject property’s value by guarantor.

3 | P a g e

COMPARATIVE MARKET ANALYSIS—There is sufficient data to support the

projected ARV as well as a strong LTV analysis. The floor plan for

is in the mid range for the area, which is in strong demand.

: SOLD COMPS

ADDRESS SqFt Sold Price Sold Date

1828 $162,950.00 1/11/2010

1780 $147,000.00 10/23/2009

1765 $155,000.00 08/18/2009

The average of the recent sales is $154,983.33. There have been adjustments

made for square footage, and it must be taken into consideration that

is the only home in the immediate area with an in-ground

swimming pool. The decision to list the remodeled home at $150,000 is not only

within comparable values, but due the quality of the finished product, will make

it the most desirable home in the area, prompting multiple offers.

ABOUT R&H HOLDINGS—R&H Holdings was officially formed in September 2009. A

Texas general partnership, it is lead by Harvey and Rosa Ryan. Both leaders have

extensive corporate America backgrounds, with Harvey Ryan having 5+ years of

extensive experience in the acquisition, remodel and sale of single family homes.

R&H Holdings has a close working relationship with H.I.S.R., Inc. and IFCOM, ran

by Bobby R. Howard and will be working closely with him on all future projects.

The geographic focus of the company is strictly in Central Texas, with the greater

Austin area the immediate priority. Full resumes and references available upon

request.

Short Term Investment Summary for Property Parkview

Before

Property Basics

Address

City/State/Zip

Bedrooms/Baths 3/2.0

Square Feet 1525

List Price $85,000.00

Market Value $158,096.00

Cost Per Square Foot $55.74

Mortgage Info First Second

Loan-to-Value Ratio 70.00% --

Loan Amount $110,000.00 --

Monthly Payment $1,239.33 --

Loan Type Hard Money --

Term 1 --

Interest Rate 13.00% --

Monthly PMI $0.00 --

Short Term Performance

Acquisition Expenses $6,000.00

Repair Expenses $25,095.00

Holding Expenses $3,000.00

Hedge Expenses $2,500.00

Sales Expenses $6,000.00

Total Expenses $42,595.00

Market Value $158,096.00

Expenses $42,595.00

Total Loan Payments $4,957.32

Prepayment Penalties $0.00

Balloon Payment $0.00

Mortgage Points $0.00

Expected Profit $20,000.00

Assignment Fee $0.00

Max Offer $90,543.68

Short Term Acquisition Expenses for Parkview

Appraisal

Title Exam

Title Insurance

Document Prep

Recording Fees

Down Payment

Loan Origination Fees

Closing Costs

Attorney Fees

Pre-Title Search

Termite Report

Survey

Transfer Fees

Prepaid Escrow

Inspection

House Insurance

Other

Percentage Method $6,000.00

Total Expenses (using Percentage Method) $6,000.00

Short Term Repair Expenses for Parkview

Floors - Carpet $1,660.00

Floors - Vinyl or Tile $1,230.00

Floors - Hardwood Floor $1,100.00

Walls - Interior Patch, Paint, and Trim $2,575.00

Walls - Trim and/or Window Area

Walls-Wallpaper

Kitchen-Sink and Base $450.00

Kitchen-Counter $1,025.00

Kitchen-Cabinets $2,000.00

Bathroom #1- Sink and Base $550.00

Bathroom #1-Vanity/Cabinet/Mirror $400.00

Bathroom #1- Tub $275.00

Bathroom #1-Toilet

Bathroom #1-Shower $270.00

Bathroom #1-Accessories $175.00

Plumbing-Kitchen $150.00

Plumbing-Bathroom #1 $225.00

Plumbing-Bathroom #2 $325.00

Plumbing-Bathroom #3

Plumbing-Hot Water Heater

Plumbing-Miscellaneous $610.00

Plumbing-Washer/Dryer/Hookup

Plumbing-Washer Sink Tub

Heat-Furnace

Heat-Ducts

Heat-Thermostat

Appliances-Stove $475.00

Appliances-Dishwasher $300.00

Appliances-Refrigerator $1,050.00

Appliances-Disposal $175.00

Electrical-Fuse Box

Electrical-Circuit Breaker

Electrical-Wiring $1,500.00

Foundation-Floor Joist

Short Term Repair Expenses (continued)

Foundation-Drainage

Attic-Water Damage

Attic-Ventilation

Attic-Insulation

Fireplace-Gas

Fireplace-Wood $50.00

Alarm System

Exterior $2,525.00

Roof-Shingles $650.00

Roof-Sheeting

Chimney

Exterior-Siding $1,550.00

Exterior-Water Damage

Door-Screen

Door-Main $200.00

Door-Patio $600.00

Window-Replacement

Gutters and DownSpouts

Landscaping $550.00

Carpentry $1,500.00

Garage $375.00

Driveway

Porch

Deck $475.00

Miscellaneous

Window-Glass

Window-Treatments

Smoke Detectors

Mailbox $50.00

Door-Knocker

Electrical-Bulbs $50.00

Exterior-Termite Damage

Other

Short Term Repair Expenses (continued)

Percentage Method


Short Term Holding Expenses for Parkview

Electric/Hydro

Water

Taxes and Insurance

Grass Cutting

Snow Removal

Inspection

Cleaning

Other

Percentage Method $3,000.00

Total Expenses (using Percentage Method) $3,000.00

Short Term Hedge Expenses for Parkview

Hedge Expenses $2,500.00

Other

Percentage Method


Property AddressCity County State Zip Code

Subject Photo Page

DrPflugerville Travis Tx 78660-2361

Subject Front

Sales PriceGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsLocationViewSiteQualityAge

DrN/A1,525732AverageTypical+/- 0.24 AcresAverage27 - Updated

Subject Rear

Subject Street

Borrower/Client

Lender

Subject Photo Page


Subject Front

Sales PriceGross Living AreaTotal RoomsTotal BedroomsTotal BathroomsLocationViewSiteQualityAge

DrN/A1,525732AverageTypical+/- 0.24 AcresAverage27 - Updated

Subject Rear

Subject Street

Borrower/Client

Lender


Page #13Main File No. 010525


Subject Photos


Pool Exterior

Interior Interior

Interior Interior

Borrower/Client

Lender

Subject Photos


Pool Exterior

Interior Interior

Interior Interior

Borrower/Client

Lender




Subject Photos


Interior Interior

Interior

Borrower/Client

Lender

Subject Photos


Interior Interior

Interior

Borrower/Client

Lender




Location Map


Borrower/Client

Lender

Location Map


Borrower/Client

Lender



Uniform Residential Appraisal Report File #

SALE

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There are comparable properties currently offered for sale in the subject neighborhood ranging in price from $ to $ .There are comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ to $ .

FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3Address

Proximity to SubjectSale Price $ $ $ $Sale Price/Gross Liv. Area $ sq.ft. $ sq.ft. $ sq.ft. $ sq.ft.Data Source(s)Verification Source(s)VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ AdjustmentSales or FinancingConcessionsDate of Sale/TimeLocationLeasehold/Fee SimpleSiteViewDesign (Style)Quality of ConstructionActual AgeConditionAbove Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. BathsRoom CountGross Living Area sq.ft. sq.ft. sq.ft. sq.ft.Basement & FinishedRooms Below GradeFunctional UtilityHeating/CoolingEnergy Efficient ItemsGarage/CarportPorch/Patio/Deck

Net Adjustment (Total) + - + - + -$ $ $Adjusted Sale Priceof Comparables $ $ $

Net Adj. %Gross Adj. %



I did did not research the sale or transfer history of the subject property and comparable sales. If not, explain

My research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.Data Source(s)My research did did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale.Data Source(s)Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).

ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 COMPARABLE SALE #3Date of Prior Sale/TransferPrice of Prior Sale/TransferData Source(s)Effective Date of Data Source(s)Analysis of prior sale or transfer history of the subject property and comparable sales

Summary of Sales Comparison Approach

Indicated Value by Sales Comparison Approach $Indicated Value by: Sales Comparison Approach $ Cost Approach (if developed) $ Income Approach (if developed) $

This appraisal is made "as is", subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have beencompleted, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to thefollowing required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair:

Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limitingconditions, and appraiser’s certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is$ , as of , which is the date of inspection and the effective date of this appraisal.

Page 2 of 6Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005

0105259 90,000 180,00019 85,000 190,000

Dr2361

N/A

AverageFee Simple+/- 0.24 AcresTypicalTraditionalAverage27 - UpdatedGood

7 3 21,525

NoneN/AAverageCentralTypical2 Car GarageCvPorch / Patio

Additional Features Inground PoolDays on Market 25

10/6/2009ForeclosureCAD & MLSAppraisal Date

603 Green Field CvPflugerville0.30 miles W

162,95089.14

MLS # 7289794CAD

CashNone1/11/2010AverageFee Simple+/- 0.25 AcresGreenbelt -5,000TraditionalAverage14Good

7 3 21,828 -12,120

NoneN/AAverageCentralTypical2 Car GarageSimilarNone +10,000186

-7,1204.416.6 155,830

None

CAD & MLSAppraisal Date

1000 Creekbend DrPflugerville0.38 miles NW

147,00082.58

MLS # 6745628CAD

ConventionalNone10/23/2009AverageFee Simple+/- 0.23 AcresAverageTraditionalAverage27 - UpdatedGood

7 4 21,780 -10,200


-2000.113.7 146,800

None


801 Brookhollow DrPflugerville0.33 miles NW

155,00087.82

MLS # 6809678CAD

FHANone8/18/2009AverageFee Simple+/- 0.25 AcresAverageTraditionalAverage25 - UpdatedGood

7 3 21,765 -9,600


4000.312.6 155,400

None


CAD & MLS

CAD & MLS

The Subject property has a foreclosure on 10/6/2009.

Subject and all three comparables are located in the same market area and are considered to appeal to thesame potential buyers. Comparables have been adjusted for site locations, gross living area, and exterior features. No other adjustments aredeemed necessary and none are made.

***The attached appraisal report is subject to completion of rehab. See attached budget / rehab list.***

150,000150,000 158,593

The Sales Comparison Approach is considered to give the most accurate indication of the current market value. Primary reliance placed on theSales Comparison Approach.

Date of Photographs/Inspection:February 05, 2010. Date of Appraisal: February 05, 2010.

150,000 February 05, 2010

0105259 90,000 180,00019 85,000 190,000

Dr2361

N/A

AverageFee Simple+/- 0.24 AcresTypicalTraditionalAverage27 - UpdatedGood

7 3 21,525

NoneN/AAverageCentralTypical2 Car GarageCvPorch / Patio

Additional Features Inground PoolDays on Market 25

10/6/2009ForeclosureCAD & MLSAppraisal Date

603 Green Field CvPflugerville0.30 miles W

162,95089.14

MLS # 7289794CAD

CashNone1/11/2010AverageFee Simple+/- 0.25 AcresGreenbelt -5,000TraditionalAverage14Good

7 3 21,828 -12,120


-7,1204.416.6 155,830

None


1000 Creekbend DrPflugerville0.38 miles NW

147,00082.58

MLS # 6745628CAD

ConventionalNone10/23/2009AverageFee Simple+/- 0.23 AcresAverageTraditionalAverage27 - UpdatedGood

7 4 21,780 -10,200


-2000.113.7 146,800

None


801 Brookhollow DrPflugerville0.33 miles NW

155,00087.82

MLS # 6809678CAD

FHANone8/18/2009AverageFee Simple+/- 0.25 AcresAverageTraditionalAverage25 - UpdatedGood

7 3 21,765 -9,600


4000.312.6 155,400

None


CAD & MLS

CAD & MLS

The Subject property has a foreclosure on 10/6/2009.

Subject and all three comparables are located in the same market area and are considered to appeal to thesame potential buyers. Comparables have been adjusted for site locations, gross living area, and exterior features. No other adjustments aredeemed necessary and none are made.

***The attached appraisal report is subject to completion of rehab. See attached budget / rehab list.***

150,000150,000 158,593

The Sales Comparison Approach is considered to give the most accurate indication of the current market value. Primary reliance placed on theSales Comparison Approach.

Date of Photographs/Inspection:February 05, 2010. Date of Appraisal: February 05, 2010.

150,000 February 05, 2010


SALE

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There are comparable properties currently offered for sale in the subject neighborhood ranging in price from $ to $ .There are comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ to $ .

FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3Address

Proximity to SubjectSale Price $ $ $ $Sale Price/Gross Liv. Area $ sq.ft. $ sq.ft. $ sq.ft. $ sq.ft.Data Source(s)Verification Source(s)VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ AdjustmentSales or FinancingConcessionsDate of Sale/TimeLocationLeasehold/Fee SimpleSiteViewDesign (Style)Quality of ConstructionActual AgeConditionAbove Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. BathsRoom CountGross Living Area sq.ft. sq.ft. sq.ft. sq.ft.Basement & FinishedRooms Below GradeFunctional UtilityHeating/CoolingEnergy Efficient ItemsGarage/CarportPorch/Patio/Deck

Net Adjustment (Total) + - + - + -$ $ $Adjusted Sale Priceof Comparables $ $ $




I did did not research the sale or transfer history of the subject property and comparable sales. If not, explain

My research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.Data Source(s)My research did did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale.Data Source(s)Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).

ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 COMPARABLE SALE #3Date of Prior Sale/TransferPrice of Prior Sale/TransferData Source(s)Effective Date of Data Source(s)Analysis of prior sale or transfer history of the subject property and comparable sales

Summary of Sales Comparison Approach

Indicated Value by Sales Comparison Approach $Indicated Value by: Sales Comparison Approach $ Cost Approach (if developed) $ Income Approach (if developed) $

This appraisal is made "as is", subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have beencompleted, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to thefollowing required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair:

Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limitingconditions, and appraiser’s certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is$ , as of , which is the date of inspection and the effective date of this appraisal.




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The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.Property Address City State Zip CodeBorrower Owner of Public Record CountyLegal DescriptionAssessor's Parcel # Tax Year R.E. Taxes $Neighborhood Name Map Reference Census TractOccupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per monthProperty Rights Appraised Fee Simple Leasehold Other (describe)Assignment Type Purchase Transaction Refinance Transaction Other (describe)Lender/Client AddressIs the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? Yes NoReport data source(s) used, offering price(s), and date(s).

I did did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was notperformed.

Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s)Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? Yes NoIf Yes, report the total dollar amount and describe the items to be paid.

Note: Race and the racial composition of the neighborhood are not appraisal factors.Neighborhood Characteristics

Location Urban Suburban RuralBuilt-Up Over 75% 25-75% Under 25%Growth Rapid Stable Slow

One-Unit Housing TrendsProperty Values Increasing Stable DecliningDemand/Supply Shortage In Balance Over SupplyMarketing Time Under 3 mths 3-6 mths Over 6 mths

One-Unit HousingPRICE$ (000)

AGE(yrs)

LowHighPred.

Present Land Use %One-Unit %2-4 Unit %Multi-Family %Commercial %Other %

Neighborhood Boundaries

Neighborhood Description

Market Conditions (including support for the above conclusions)

Dimensions Area Shape ViewSpecific Zoning Classification Zoning DescriptionZoning Compliance Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe)Is the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use? Yes No If No, describe

Utilities Public Other (describe) Public Other (describe)ElectricityGas

WaterSanitary Sewer

Off-site Improvements - Type Public PrivateStreetAlley

FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map DateAre the utilities and off-site improvements typical for the market area? Yes No If No, describeAre there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes No If Yes, describe

General DescriptionUnits One One with Accessory Unit# of StoriesType Det. Att. S-Det./End Unit

Existing Proposed Under Const.Design (Style)Year BuiltEffective Age (Yrs)

FoundationConcrete Slab Crawl SpaceFull Basement Partial Basement

Basement Area sq.ft.Basement Finish %

Outside Entry/Exit Sump PumpEvidence of Infestation

Dampness Settlement

Exterior Description materials/conditionFoundation WallsExterior WallsRoof SurfaceGutters & DownspoutsWindow TypeStorm Sash/InsulatedScreens

Interior materials/conditionFloorsWallsTrim/FinishBath FloorBath Wainscot

Attic NoneDrop Stair StairsFloor ScuttleFinished Heated

Heating FWA HWBB RadiantOther Fuel

Cooling Central Air ConditioningIndividual Other

AmenitiesFireplace(s) #Patio/DeckPool

Woodstove(s) #FencePorchOther

Car Storage NoneDriveway # of Cars

Driveway SurfaceGarage # of CarsCarport # of CarsAtt. Det. Built-in

Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe)Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above GradeAdditional features (special energy efficient items, etc.).

Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).

Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes No If Yes, describe

Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes No If No, describe


010525

Dr Pflugerville Tx 78660-2361Travis

Lot 15 Blk B Brookhollow Sec 102744007090000 2008 N/ABrookhollow 12420 0018.36

None

Hard Money AppraisalWalter Capital Funding LLC 600 Round Rock West Drive #601, Round Rock, Tx 78681

The subject is currently listed for sale at $92,500. DOM - 25. MLS .

Contract not available

N/A N/A

50300+175

06025

75555

10Boundaries: City of Pflugerville, Texas and surrounding areas.

Marketability and appeal of properties in the neighborhood are average. Shopping and recreational facilities, access toemployment, schools, fire and police protection, garbage removal, street maintenance, protection from detrimental conditions and utility availabilityare adequate and acceptable.

General appearance and overall appeal of properties are average. No abnormal financingconditions are known. Neighborhood is part of local MLS area PF.

Plat not available +/- 0.24 Acres Rectangular TypicalA1 Single Family Residential

Asphalt

X 48453C0280H 9/26/2008

A survey was not provided and therefore no apparent adverse easements, encroachments, special assessments, slide areas, illegal or legalnonconforming use, are known. The highest and best use of the site and improvements is considered to be single family residential.

1

Traditional198312

None NtdN

Wood/GoodBrick/Siding/GoodComposition/GoodTypicalMetal/GoodTypicalTypical

WdLm/Tile/Cpt/NewSheetrock/GoodWood/GoodTile/NewFiberglass/Exclnt

Gas / Elec 1Patio

Inground

Wd Pvcy

2Concrete

2

7 3 2 1,525Subject to completion appraisal. See updates / budget list.

The functional utility of the subject floorplan isconsidered to be typical for the area. No items of physical, curable functional or external depreciation noted.

010525

Dr Pflugerville Tx 78660-2361Travis

Lot 15 Blk B Brookhollow Sec 102744007090000 2008 N/ABrookhollow 12420 0018.36

None

Hard Money AppraisalWalter Capital Funding LLC 600 Round Rock West Drive #601, Round Rock, Tx 78681

The subject is currently listed for sale at $92,500. DOM - 25. MLS .

Contract not available

N/A N/A

50300+175

06025

75555

10Boundaries: City of Pflugerville, Texas and surrounding areas.

Marketability and appeal of properties in the neighborhood are average. Shopping and recreational facilities, access toemployment, schools, fire and police protection, garbage removal, street maintenance, protection from detrimental conditions and utility availabilityare adequate and acceptable.

General appearance and overall appeal of properties are average. No abnormal financingconditions are known. Neighborhood is part of local MLS area PF.

Plat not available +/- 0.24 Acres Rectangular TypicalA1 Single Family Residential

Asphalt

X 48453C0280H 9/26/2008

A survey was not provided and therefore no apparent adverse easements, encroachments, special assessments, slide areas, illegal or legalnonconforming use, are known. The highest and best use of the site and improvements is considered to be single family residential.

1

Traditional198312

None NtdN

Wood/GoodBrick/Siding/GoodComposition/GoodTypicalMetal/GoodTypicalTypical

WdLm/Tile/Cpt/NewSheetrock/GoodWood/GoodTile/NewFiberglass/Exclnt

Gas / Elec 1Patio

Inground

Wd Pvcy

2Concrete

2

7 3 2 1,525Subject to completion appraisal. See updates / budget list.

The functional utility of the subject floorplan isconsidered to be typical for the area. No items of physical, curable functional or external depreciation noted.


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The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.Property Address City State Zip CodeBorrower Owner of Public Record CountyLegal DescriptionAssessor's Parcel # Tax Year R.E. Taxes $Neighborhood Name Map Reference Census TractOccupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per monthProperty Rights Appraised Fee Simple Leasehold Other (describe)Assignment Type Purchase Transaction Refinance Transaction Other (describe)Lender/Client AddressIs the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? Yes NoReport data source(s) used, offering price(s), and date(s).

I did did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was notperformed.

Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s)Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? Yes NoIf Yes, report the total dollar amount and describe the items to be paid.

Note: Race and the racial composition of the neighborhood are not appraisal factors.Neighborhood Characteristics

Location Urban Suburban RuralBuilt-Up Over 75% 25-75% Under 25%Growth Rapid Stable Slow

One-Unit Housing TrendsProperty Values Increasing Stable DecliningDemand/Supply Shortage In Balance Over SupplyMarketing Time Under 3 mths 3-6 mths Over 6 mths

One-Unit HousingPRICE$ (000)

AGE(yrs)

LowHighPred.

Present Land Use %One-Unit %2-4 Unit %Multi-Family %Commercial %Other %

Neighborhood Boundaries

Neighborhood Description

Market Conditions (including support for the above conclusions)

Dimensions Area Shape ViewSpecific Zoning Classification Zoning DescriptionZoning Compliance Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe)Is the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use? Yes No If No, describe

Utilities Public Other (describe) Public Other (describe)ElectricityGas

WaterSanitary Sewer

Off-site Improvements - Type Public PrivateStreetAlley

FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map DateAre the utilities and off-site improvements typical for the market area? Yes No If No, describeAre there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes No If Yes, describe

General DescriptionUnits One One with Accessory Unit# of StoriesType Det. Att. S-Det./End Unit

Existing Proposed Under Const.Design (Style)Year BuiltEffective Age (Yrs)

FoundationConcrete Slab Crawl SpaceFull Basement Partial Basement

Basement Area sq.ft.Basement Finish %

Outside Entry/Exit Sump PumpEvidence of Infestation

Dampness Settlement

Exterior Description materials/conditionFoundation WallsExterior WallsRoof SurfaceGutters & DownspoutsWindow TypeStorm Sash/InsulatedScreens

Interior materials/conditionFloorsWallsTrim/FinishBath FloorBath Wainscot

Attic NoneDrop Stair StairsFloor ScuttleFinished Heated

Heating FWA HWBB RadiantOther Fuel

Cooling Central Air ConditioningIndividual Other

AmenitiesFireplace(s) #Patio/DeckPool

Woodstove(s) #FencePorchOther

Car Storage NoneDriveway # of Cars

Driveway SurfaceGarage # of CarsCarport # of CarsAtt. Det. Built-in

Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe)Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above GradeAdditional features (special energy efficient items, etc.).

Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).

Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes No If Yes, describe

Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes No If No, describe



Previous Project located at 12508 Deer Falls Drive, Austin TX

Before After

Previous Project located at 8314 Cahill Drive, Austin TX

Before After

sample loan proposal

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