PROPERTY:

West Virginia Ave, NE, Washington, DC  20002

DESCRIPTION:

  • Purchase price is $240,000 and construction costs are $100,000.
  • Cash to close is $39,000
  • Holding $100,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $325,000 1st Mortgage
Value of Subject Property: $450,000
Loan to Value: 72%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 543