PROPERTY:

Belleville Ave, Baltimore, MD  21207

DESCRIPTION:

  • Purchase price is $41,000 and construction costs are $30,000.
  • Cash to close is $38,000
  • Holding $15,000 of the funds which will be reimbursed upon completion of project
  • This is the borrower’s first flip.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $55,000 1st Mortgage
Value of Subject Property: $90,000
Loan to Value: 62%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score