Old Centreville Road, Centreville, VA 20121


The borrower is requesting a hard money loan to acquire an investment property in a good area of Fairfax county.  The lot is currently .6 acres and the Borrower will be building a 2,600 sq ft above ground 1,500 below ground spec house.   The property is being purchased under market value for $100,000.  The borrower has a tremendous amount of experience flipping properties and does many transactions on a monthly basis.  The Borrower is putting up about $31K+ of their own cash.  The property needs $270K in work.  The borrower is strong with a 684 credit score, experience flipping properties and money in the bank. HMB has already done successful transactions with this Borrower.


Loan Type: Purchase
Loan Amount: $370,000 1st Mortgage
Value of Subject Property: $575,000
Loan to Value: 65%
Term requested: 12 Month Balloon
Investor return: 12%
Exit Strategy: Resell property
Credit Score 690


The pros are:

The lender will have good collateral on an investment property. The borrowers have strong credit, good assets and experience. The Borrowers will be contributing about $31K+ into this deal.

The cons are:

The Borrowers exit strategy of selling could take longer than expected in this market.