Newton St NW, Washington, DC 20010
- Refinance on a property they purchased 20 years ago and needs to be renovated
- The property is currently rented out for $2,800 per month
- Cash out is going towards construction costs. HMB is holding back $40,000 of it which will be reimbursed in construction draws.
|Loan Amount:||$300,000 1st Mortgage|
|Value of Subject Property:||$600,000|
|Loan to Value:||50%|
|Term requested:||12 Month Balloon|