PROPERTY:

Mentor Ave,  Capital Heights, MD   20743

 

DESCRIPTION:

  • Cash out refi of F & C property purchased in 2013.  Rehab has been started
  • Constructions costs are $45,000
  • Holding $45,000 which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type: Refinance Construction
Loan Amount: $65,000 1st Mortgage
Value of Subject Property: $200,000
Loan to Value: 33%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 639 / 603