PROPERTY:

Wildflower, LaPlata, MD 20646

DESCRIPTION:

  • Purchase price is $237,500 and construction costs are $20,000.
  • Cash to close is $81,000
  • Holding $20,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing, repeat borrower.

PROPOSED TERMS:

Loan Type: Purchase
Loan Amount: $210,000 1st Mortgage
Value of Subject Property: $325,000
Loan to Value: 65%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 630