PROPERTY:

Reece Rd – 2 ,Severn , MD 21144

DESCRIPTION:

  • Purchase price is $157,000  and construction costs are $50,000
  • Cash to close is $24,000.
  • Holding $50,000 which will be released upon completion of the project.
  • Experience in rehabbing – prior client, extensive portfolio.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $200,000 1st Mortgage
Value of Subject Property: $315,000
Loan to Value: 64%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 642