PROPERTY: 

Jessica’s Ln, Bel Air,  MD 21014

 

DESCRIPTION:

  • Purchase price is $107,000 and construction costs are $12,000.
  • Cash to close is $22,000
  • Holding $12,000 of the funds which will be reimbursed upon completion of project
  • Excellent credit, experienced borrower.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $110,000 1st Mortgage
Value of Subject Property: $175,000
Loan to Value: 63%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score  706