PROPERTY:

Fifth Ave,  Lansdowne,  MD 21227

DESCRIPTION:

  • Purchase price is $52,000 and construction costs are $13,000.
  • Cash to close is $0
  • Holding $13,000 of the funds which will be reimbursed upon completion of project
  • Experienced borrower.  Jason and Chris are co-guarantors.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $72,000 1st Mortgage
Value of Subject Property: $120,000
Loan to Value: 60%
Term requested: 12 Month Balloon
Exit Strategy: Refinance and rented
Credit Score 720