PROPERTY:

Palmcrest Ct, Woodbridge, VA  22193

DESCRIPTION:

  • Purchase price is $215,000 and construction costs are $45,000.
  • Cash to close is $81,000
  • Holding $45,000 of the funds which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type:  Purchase Construction
Loan Amount:  $195,000 1st Mortgage
Value of Subject Property:  $300,000
Loan to Value:  65%
Term requested:  9 Month Balloon
Exit Strategy:  Resell property
Credit Score  703