Baltimore Maryland Hard Money Loan For Purchase
Address: Baltimore, MD
Borrower Profile: First Time Borrower, Experienced Investor
Work Description: Purchase Only - Single Family
Purchase Price: $159,500
Renovation Budget: $0
Loan Amount: $111,000
Cash Available for Purchase: $111,000
Cash Available for Renovation: $0
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase Only
ARV: $148,000 (As Is)
Situation:
Asset Based Lending recently funded a property purchase hard money loan in Baltimore Maryland. The borrower is a first-time borrower and experienced real estate investor. The property was purchased for $159,500 with the total loan funded at nearly 70% LTC and nearly 75% LTV. The property is a 3-bedroom, 1-bathroom single-family measured at 1,875. Borrower will hold the property as an income-producing asset with our rental refinance program.
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