PROPERTY:

Kingsmark Ct, Abingdon, MD 21009

DESCRIPTION:

  • Purchase price is $152,000 and construction costs are $20,000.
  • Cash to close is $15,000
  • Holding $20,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; prior client; portfolio of rental and rehab units

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $170,000 1st Mortgage
Value of Subject Property: $250,000
Loan to Value: 68%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 670/677