PROPERTY:

Harmony Ave,  Arnold,  MD 21012

DESCRIPTION:

  • Refinance of a property purchased in June 2015 for 118,000.  Property currently under renovation.
  • Cash to close is $0
  • Holding $80,000 of the funds which will be reimbursed upon completion of project
  • Experienced borrower.  Jason and Chris are co-guarantors.

PROPOSED TERMS:

Loan Type: Refinance construction
Loan Amount: $330,000 1st Mortgage
Value of Subject Property: $380,000
Loan to Value: 85%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 720