PROPERTY: 

4th St, Pasadena, MD  21122

 

DESCRIPTION:

  • Purchase price is $95,000 and construction costs are $45,000.
  • Cash to close is $19,000
  • Holding $45,000 of the funds which will be reimbursed upon completion of project

 

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $135,000 1st Mortgage
Value of Subject Property:  $200,000
Loan to Value: 68%
Term requested: 12 Month Balloon
Exit Strategy: Resell
Credit Score  725