PROPERTY:

Eastern Ave,  Baltimore,  MD 21230

DESCRIPTION:

  • Purchase price is $110,000 and construction costs are $135,000.
  • Cash to close is $1,000
  • Holding $135,000 of the funds which will be reimbursed upon completion of project
  • Experienced borrower.  Jason and Chris are co-guarantors.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $265,000 1st Mortgage
Value of Subject Property: $370,000
Loan to Value: 72%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 720

lll