Hard Money Loan In Baltimore For Property Renovation Only

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Address: Baltimore, MD

Purchase Price: $13,000

Renovation Budget: $130,000

Loan Amount: $114,000

Cash Available for Purchase: $0

Cash Available for Renovation: $114,000

Loan Structure: 12 Months Interest Only

Loan Purpose: Property Rehabilitation Only

ARV: $202,000

Situation:

Asset Based Lending recently funded a hard money loan for a property rehab in Baltimore, Maryland. The borrower is applying for a Baltimore City tax credit for historic rehabilitation and restorations through the CHAP program, and we can’t wait to see how the $130,000 renovation budget turns out!