PROPERTY: 

Carlisle Ave, Baltimore,  MD  21216

DESCRIPTION:

  • Purchase price is $35,000 and construction costs are $70,000.
  • Cash to close is $20,000.
  • Holding $70,000 of the funds which will be reimbursed upon completion of project
  • Prior client.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $100,000 1st Mortgage
Value of Subject Property: $160,000
Loan to Value: 63%
Term requested: 12  Month Balloon
Exit Strategy: Resale
Credit Score  642