PROPERTY:

Fairway Dr, Baltimore, MD 21286

DESCRIPTION:

  • Purchase price is $180000 and construction costs are $90,000.
  • Cash to close is $15,000
  • Holding $90,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing, we have done several successful loans with this borrower.

PROPOSED TERMS:

Loan Type: Purchase
Loan Amount: $270,000 1st Mortgage
Value of Subject Property: $400,000
Loan to Value: 68%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 665