PROPERTY: 

Tidewater Ct, Olney, MD  20832

DESCRIPTION:

  • Purchase price is $150,000 and construction costs are $30,000.
  • Cash to close is $53,000
  • Holding $30,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing.

PROPOSED TERMS:

Loan Type:  Purchase Construction
Loan Amount:  $140,000 1st Mortgage
Value of Subject Property:  $280,000
Loan to Value:  50%
Term requested:  9 Month Balloon
Exit Strategy:  Sell property
Credit Score 806