Baltimore Maryland Hard Money Loan For Property Purchase
Address: Baltimore, MD
Borrower Profile: First Time Borrower, Experienced Investor
Work Description: Purchase Only - Single Family
Purchase Price: $159,000
Renovation Budget: $0
Loan Amount: $111,000
Cash Available for Purchase: $111,000
Cash Available for Renovation:
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase Only
ARV: $148,000 (As-Is)
Situation:
Asset Based Lending recently funded a hard money property purchase loan in Baltimore Maryland. The borrower is a repeat borrower and full-time builder & real estate investor. The property was purchased for $159,000 with total loan funded at 70% LTC and 75% LTV. The property is a single-family 3-bedroom, 1-bathroom measured at a total 1,875 square feet. The borrower will be holding this property as an income producing asset by refinancing into our long-term rental loans.
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