PROPERTY:

Ponfield Rd W, Forest Hill,  MD 21050

DESCRIPTION:

  • Purchase price is $238,000 and construction costs are $30,000.
  • Cash to close is $85,000
  • 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: $200,000 1st Mortgage
Value of Subject Property: $300,000
Loan to Value: 67%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score  584 /691