PROPERTY:
Allies Rd, Suitland, MD 20746
DESCRIPTION:
- The borrower paid $96,000 for the property in Nov 2015
- We are doing an $80,000 bridge loan against this property so the borrower can use funds to update the property and sell it for the highest market value.
PROPOSED TERMS:
Loan Type: | Refinance |
Loan Amount: | $80,000 1st Mortgage |
Value of Subject Property: | $240,000 |
Loan to Value: | 33% |
Term requested: | 12 Month Balloon |
Exit Strategy: | Resell property |
Credit Score | 729 |