PROPERTY: 

Owens Rd, Oxon Hill, MD 20745

 

DESCRIPTION:

  • Refinance of F & C property that was purchased for $110,000 in Jan 2015.
  • Construction costs are $25,000.
  • Holding $25,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; bringing cash to the table and has cash in the bank, low ltv

PROPOSED TERMS:

Loan Type: Refinance Construction
Loan Amount: $60,000 1st Mortgage
Value of Subject Property: $225,000
Loan to Value: 27%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 569