PROPERTY:

Ridgley St, Baltimore, MD

DESCRIPTION:

  • Cash out refi of F & C property purchased in Sept 2014 for $23,700
  • Construction costs are $30,000
  • Cashback at closing of $4,000
  • Holding $30,000 of the funds which will be reimbursed upon completion of project.

PROPOSED TERMS:

Loan Type: Refinance construction
Loan Amount: $45,000 1st Mortgage
Value of Subject Property: $70,000
Loan to Value: 65%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 552