PROPERTY:

Steven Forest Rd, Columbia, MD 21045

DESCRIPTION:

  • Purchase price is $270,000 and construction costs are $50,000.
  • Cash to close is $70,000
  • Holding $50,000 of the funds which will be reimbursed upon completion of project
  • Prior client.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $270,000 1st Mortgage
Value of Subject Property: $400,000
Loan to Value: 68%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 652