PROPERTY:
Cadbury Dr, Odenton, MD 21113
DESCRIPTION:
- Purchase price is $184,000 and construction costs are $52,000.
- Cash to close is $0
- Holding $52,000 of the funds which will be reimbursed upon completion of project
- Experienced borrower. Jason and Chris are co-guarantors.
PROPOSED TERMS:
Loan Type: | Purchase construction |
Loan Amount: | $255,000 1st Mortgage |
Value of Subject Property: | $360,000 |
Loan to Value: | 74% |
Term requested: | 12 Month Balloon |
Exit Strategy: | Resell property |
Credit Score | 720 |
lll