PROPERTY:

Gwynn Oak Ave, Baltimore, MD 21207

DESCRIPTION:

  • Cash out refinance of F & C property  and construction costs are $50,000.
  • Borrower will receive $40,000 at closing
  • Holding $50,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing;borrower has done many deals

PROPOSED TERMS:

Loan Type: Cash out refi
Loan Amount: $100,000 1st Mortgage
Value of Subject Property: $195,000
Loan to Value: 51%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 642