PROPERTY:

Gerard Dr, Glen Burnie, MD  21060

DESCRIPTION:

  • Purchase price is $120,000 and construction costs are $70,000.
  • Cash to close is $24,000
  • Holding $70,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing.  Prior client.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $180,000 1st Mortgage
Value of Subject Property: $270,000
Loan to Value: 65%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 733