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 |