PROPERTY: 

Thompson Dr,  Waldorf,  MD   20602

 

DESCRIPTION:

  • Purchase price is $70,000  and construction costs are $60,000
  • Cash to close is $33,000.
  • Holding $60,000 of the funds which will be reimbursed upon completion of the project.
  • Borrower has wholesaling experience but this will be his first rehab.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $110,000 1st Mortgage
Value of Subject Property: $170,300
Loan to Value: 65%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score  711 / 730