PROPERTY:

Upshur St, NW Washington, DC  20011

DESCRIPTION:

  • Cash out refinance of F/C lot loan that was subdivided from his primary residence he purchased in 2011
  • We are not holding a construction escrow
  • Experience in rehabbing / prior client.
  • Funds to be used to rehab another property.

PROPOSED TERMS:

Loan Type: Refinance of Lot
Loan Amount: $250,000 1st Mortgage
Value of Subject Property: $606,000
Loan to Value: 41%
Term requested: 12 Month Balloon
Exit Strategy: payoff with proceeds of other property sales
Credit Score 699