PROPERTY:

Silver Trumpet Dr,  Columbia,  MD 21045

DESCRIPTION:

  • Purchase price is $191,000 and construction costs are $7,000
  • Cash to close is $0
  • Holding $7,000 of the funds which will be reimbursed upon completion of project.
  • This is a joint venture deal.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $210,000 1st Mortgage
Value of Subject Property: $290,000
Loan to Value: 73%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score