Baltimore Maryland Hard Money Loan For Property Purchase

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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.