PROPERTY: 

Belford Rd, Baltimore,   MD  21206

DESCRIPTION:

  • Purchase price is $66,000 and construction costs are $35,000.
  • Cash to close is $17,000.
  • Holding $35,000 of the funds which will be reimbursed upon completion of project
  • Borrower owns city and PG county rentals and has done flips in the past.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $95,000 1st Mortgage
Value of Subject Property: $155,000
Loan to Value: 62%
Term requested: 9 Month Balloon
Exit Strategy: Resale
Credit Score  699