PROPERTY:

Cody Ave, Baltimore, MD  21234

DESCRIPTION:

  • Purchase price is $279,000 and construction costs are $30,000.
  • Cash to close is $22,000
  • Holding $30,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing, prior client.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $310,000 1st Mortgage
Value of Subject Property: $475,000
Loan to Value: 65%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 693