PROPERTY: 

M St, SW Washington DC 20024

 

DESCRIPTION:

  • Cash out refi of a property purchased on 1/30/15 for $505,000.
  • Cash back at close is $160,000  after paying off lien of $105,000.
  • Experienced borrower.

PROPOSED TERMS:

Loan Type: Refinance
Loan Amount: $300,000 1st Mortgage
Value of Subject Property: $505,000
Loan to Value: 60%
Term requested: 9 Month Balloon
Exit Strategy: Bank refi or Resell property
Credit Score