PROPERTY:

Eder Dr, Baltimore,  MD 21222

DESCRIPTION:

  • Purchase price is $69,000 and construction costs are $20,000
  • Cash to close is $17,000
  • Holding $20,000 of the funds which will be reimbursed upon completion of project.
  • Prior client.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $80,000 1st Mortgage
Value of Subject Property: $130,000
Loan to Value: 63%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 552