PROPERTY: 

Coronet Dr, Linthicum Heights,  MD  21090

DESCRIPTION:

  • Purchase price is $149,000 and construction costs are $15,000.
  • Cash to close is $28,000.
  • Holding $15,000 of the funds which will be reimbursed upon completion of project
  • Prior client.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $150,000 1st Mortgage
Value of Subject Property: $250,000
Loan to Value: 60%
Term requested: 12  Month Balloon
Exit Strategy: Resale
Credit Score  725