PROPERTY: 

Harriet Dr,  Glen Burnie,  MD   21060

 

DESCRIPTION:

  • Purchase price is $125,000 and construction costs are $20,000.
  • Cash to close is $26,000.
  • Holding $20,000 which will be returned upon completion of the project.
  • Experience in rehabbing and home-building, prior client.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $130,000 1st Mortgage
Value of Subject Property: $200,000
Loan to Value: 65%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score  776