PROPERTY:

E Indian Spring Dr,  Silver Spring,  MD 20901

DESCRIPTION:

  • Purchase price is $266,774 and construction costs are $35,000.
  • Cash to close is $67,000
  • Holding $35,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; prior client w/ portfolio of rehabbed homes.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $260,000 1st Mortgage
Value of Subject Property: $400,000
Loan to Value: 65%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 683