PROPERTY: 

McKinsey Rd, Severna Park,  MD  21146

DESCRIPTION:

  • Purchase price is $198,000 and construction costs are $20,000.
  • Cash to close is $33,000.
  • Holding $20,000 of the funds which will be reimbursed upon completion of project
  • Prior client.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $200,000 1st Mortgage
Value of Subject Property: $275,000
Loan to Value: 73%
Term requested: 12  Month Balloon
Exit Strategy: Resale
Credit Score  725