70% LTV at 5.5% Interest, No Prepay Penalty
StackSource successfully sourced $161,000 for the purchase of 6-unit multi-family property in Hagerstown, MD. Hagerstown is the county seat of Washington County, MD, which is located off I-81 in Northern Maryland, just south of the Pennsylvania/Maryland border. The sponsors for the project, a pair of active duty military officers living in different states, had been turned away by the traditional lenders they knew because the property is considered commercial – not residential. Capital Advisor Tommy Lester connected them with a Federal Credit Union to secure 70% LTV financing at a fixed rate of 5.50% fixed for 5 years, based on a 25-year amortization period.
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