Osborne Rd, Aberdeen, MD   21001

DESCRIPTION:

  • We are doing a loan of $50,000 on a property the borrower just paid $45,000 cash for in Feb 2016. 
  • Borrower will be using funds to purchase another property.
  • Cash back at closing $43,000.
  • Prior client; borrower is an experienced contractor / flipper.

PROPOSED TERMS:

Loan Type: Refinance
Loan Amounts: $50,000 1st Mortgage
Value of Subject Property: $100,000
Loan to Value : 50%
Term requested: 12 Month Balloon
Exit Strategy: Resale on new property
Credit Score  661