PROPERTY: 

Lacona St.,  Forestville, MD   20747

 

DESCRIPTION:

  • Purchase price is $101,664 and construction costs are $15,000.
  • Cash to close is $20,000
  • Holding $15,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; prior client with portfolio of rental and rehab homes

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $110,000 1st Mortgage
Value of Subject Property: $170,000
Loan to Value: 65%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 723/668