PROPERTY: 

Coleridge Rd, Baltimore, MD  21229

DESCRIPTION:

  • Purchase price is $69,000 and construction costs are $20,000.
  • Cash to close is $15,000
  • Holding $20,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing and construction work.  Prior client.

PROPOSED TERMS:

Loan Type:  Purchase Construction
Loan Amount:  $82,500 1st Mortgage
Value of Subject Property:  $165,000
Loan to Value:  50%
Term requested:  12 Month Balloon
Exit Strategy:  Sell property
Credit Score 672 / 624