PROPERTY: 

40th St, Brentwood, MD   20722

 

DESCRIPTION:

  • Cash out refi of property purchased for $115,000 in 8/2014
  • Holding $35,000 of the funds which will be reimbursed upon completion of project
  • Cash back at close is $15,000 after paying off current mortgage

PROPOSED TERMS:

Loan Type: Refinance Construction
Loan Amount: $145,000 1st Mortgage
Value of Subject Property: $265,000
Loan to Value: 53%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score  619