PROPERTY:

Anne Ct,  Clinton, MD 20735

DESCRIPTION:

  • Purchase price is $162,000 and construction costs are $25,000
  • Cash to close is $53,000
  • Holding $25,000 of the funds which will be reimbursed upon completion of project.
  • Prior client.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $150,000 1st Mortgage
Value of Subject Property: $237,000
Loan to Value: 63%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 549 / 647