PROPERTY:
W Street, SE, Washington, DC 20020
LOAN OVERVIEW:
The borrower is looking to refinance an investment property he has worth about $100K in DC. The property is a 900 sq ft 3/1 townhome.  He originally had on the market for $125K and is about to drop price in order to sell. The cash out is going towards an immediate business venture that the Borrower is slightly short on cash for.
PROPOSED TERMS:
| Loan Type: | Purchase |
| Loan Amount: | $35,000 1st Mortgage |
| Value of Subject Property: | $100,000 |
| Loan to Value: | 35% |
| Term requested: | 9 Month Balloon |
| Investor return: | 12% |
| Exit Strategy: | Resell property |
| Credit Score | low |
HARD MONEY BANKERS COMMENTS:
The pros are:
The lender will have good collateral on an investment property at a 35% ltv.
The cons are:
The Borrowers exit strategy of selling could take longer than expected in this market.