PROPERTY:

Delaware Ave, Baltimore, MD 21221

DESCRIPTION:

  • Purchase price is $67,300 and construction costs are $30,000.
  • Cash to close is $9,000
  • 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: $98,000 1st Mortgage
Value of Subject Property: $165,000
Loan to Value: 60%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 650