PROPERTY:
Sunbright Ln, Germantown, MD 20874
DESCRIPTION:
The Borrower is requesting a hard money loan to refinance a free and clear property they purchased a month ago for $250K cash .  The property is just starting to get renovated so they can list for resale next month. The cash out is going to the purchase of some other properties.
PROPOSED TERMS:
| Loan Type: | Purchase |
| Loan Amount: | $180,000 1st Mortgage |
| Value of Subject Property: | $275,000 |
| Loan to Value: | 66% |
| Term requested: | 9 Month Balloon |
| Exit Strategy: | Resell property |
| Credit Score | 759 |
HARD MONEY BANKERS COMMENTS:
The pros are:
The lender will have good collateral on an investment property in a stable area. The Borrower is strong with experience, credit and assets.
The cons are:
The Borrowers exit strategy of selling could take longer than expected in this market.