Home Lean Review: Lesson Review

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COMMUNITY DEVELOPMENT
HOME REHABILITATION PROGRAM LOAN REVIEW BOARD
LOAN SUMMARY
Introduction: Homeowner is a single man with no dependents. He is under the age of 62 but applied prior to our loan requirement change. Income is moderate at $2,966 per month and comes from his job at the food bank and some rental income. Credit is excellent with 19 accounts showing all R1, 4 with a balance. Debt to income is 49%, payment to income is 36% Loan to value is 83% after rehab is 87%. The home is located at 2620 Cedarwood Ave, and is zoned single family. The home was purchased in September of 2011 for $180,000.00. The current balance is $157,307. The house is 89 years old. The assessed value is $191,146. Taxes are $2,087. Per year and current. The City

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