PROPERTY:

Millgate Rd, Owings Mills, MD  21117

DESCRIPTION:

  • Purchase price is $75,00 and  construction costs are $45,000.
  • Cash to close is $12,000
  • Holding $45,000 of the funds which will be reimbursed upon completion of project.
  • Past client with rehab experience.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $120,000 1st Mortgage
Value of Subject Property: $200,000
Loan to Value: 60%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 684