PROPERTY:

56th Pl, NE,  Washington, DC  20019

DESCRIPTION:

  • Purchase price is $136,00 and construction costs are $20,000.
  • Cash to close is $14,000
  • Holding $20,000 of the funds which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $155,000 1st Mortgage
Value of Subject Property: $325,000
Loan to Value: 48%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 664