PROPERTY:

Rose Quartz Ter, Capitol Heights, MD 20743

DESCRIPTION:

The Borrower is requesting a hard money loan to purchase and renovate a property. The purchase price is $116,000 and the property needs minimum rehab work.   The Borrower will be bringing about $25K to closing. She  has good credit, cash and experience.  We have done 1 successful deal for her in the past.

PROPOSED TERMS:

Loan Type: Purchase
Loan Amount: $105,000 1st Mortgage
Value of Subject Property: $180,000
Loan to Value: 58%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 711

HARD MONEY BANKERS COMMENTS:

The pros are:

The lender will have good collateral on an investment property in a good 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.