PROPERTY:

Horseshoe Ln, Edgewood, MD 21040

DESCRIPTION:

  • Purchase price is $34,000 and construction costs are $19,000
  • Cash to close $7,000
  • Holding $19,000 of the funds which will be reimbursed upon completion of the project
  • Experience in rehabbing; prior client;  portfolio of rehabbed & rental units

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $53,000 1st Mortgage
Value of Subject Property: $85,000
Loan to Value: 62%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 673/677