PROPERTY: 

Fonanta Ct,  Unit 6, Glen Burnie,  MD  21061

DESCRIPTION:

  • Purchase price is $94,500 and construction costs are $30,000.
  • Cash to close is $41,000.
  • Holding $30,000 of the funds which will be reimbursed upon completion of project
  • Prior client.  Experience real estate agent.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $95,000 1st Mortgage
Value of Subject Property: $155,000
Loan to Value: 62%
Term requested: 9  Month Balloon
Exit Strategy: Resale
Credit Score  764