PROPERTY: 

Proctor Ave, Glen Burnie,  MD  21061

DESCRIPTION:

  • Purchase price is $165,000 and construction costs are $20,000.
  • Cash to close is $26,000.
  • Holding $20,000 of the funds which will be reimbursed upon completion of project
  • Very experienced builder.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $175,000 1st Mortgage
Value of Subject Property: $270,000
Loan to Value: 65%
Term requested: 12 Month Balloon
Exit Strategy: Resale
Credit Score   716 / 633