PROPERTY:

Meade St, NE Washington DC  20019

DESCRIPTION:

  • Purchase price is $215,000 and construction costs are $60,000.
  • Cash to close is $69,000
  • Holding $60,000 of the funds which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $225,000 1st Mortgage
Value of Subject Property: $375,000
Loan to Value: 60%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 651