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 |