PROPERTY:

Alderwood Ave, Baltimore, MD 21229

DESCRIPTION:

  • Purchase price is $76,000 and construction costs are $60,000.
  • Cash to close is $25,000
  • Holding $60,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; past client

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $125,000 1st Mortgage
Value of Subject Property: $200,000
Loan to Value: 63%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 642