PROPERTY: Saint Patricia Lane, Baltimore, MD 21222

DESCRIPTION:

  • Purchase price is $52,500 and construction costs are $40,000.
  • Cash to close is $14,600
  • Holding $40,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $85,000 1st Mortgage
Value of Subject Property: $130,000
Loan to Value: 65%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 640