PROPERTY:

Ingleside Ave, Baltimore, MD 21207

DESCRIPTION:

  • Purchase price is $80,000 and construction costs are $40,000
  • Cash to close $23,000
  • Holding $40,000 of the funds which will be reimbursed upon completion of the project
  • Borrower has prior experience

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $110,000 1st Mortgage
Value of Subject Property: $210,000
Loan to Value: 52%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 711 / 754