PROPERTY:

Milford Mill,  Baltimore,  MD 21208

DESCRIPTION:

  • Purchase price is $75,000 and construction costs are $30,000.
  • Cash to close is $16,000
  • Holding $30,000 of the funds which will be reimbursed upon completion of project
  • Prior client with rehab experience.

 

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $100,000 1st Mortgage
Value of Subject Property: $160,000
Loan to Value: 63%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 693