PROPERTY:

Caroll St, Baltimore, MD 21230

DESCRIPTION:

  • Purchase price is $17,500 and construction costs are $50,000.
  • Cash to close is $20,000
  • Holding $50,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $60,000 1st Mortgage
Value of Subject Property: $100,000
Loan to Value: 55%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 670 / 658