PROPERTY:

Belmar Ave, Baltimore, MD 21206

DESCRIPTION:

  • Purchase price is $76,285 and construction costs are $50,000.
  • Cash to close is $11,000
  • Holding $50,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing, prior client.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $126,000 1st Mortgage
Value of Subject Property: $230,000
Loan to Value: 55%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 650