800.883.8290Osborne 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 |
