PROPERTY: 

Comet Dr,  Fort Washington, MD   20744

DESCRIPTION:

  • Cash out refinance of property purchased in Jan 2015 for $60,000.
  • Cash back at closing is  $5,000 after paying off $52,000 lien.
  • Holding $30,000 of the funds which will be reimbursed upon completion of project

 

 

PROPOSED TERMS:

Loan Type: Refinance Construction
Loan Amount: $100,000 1st Mortgage
Value of Subject Property: $154,000
Loan to Value: 65%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 496 / 669