PROPERTY: 

Gilmore St, Baltimore, MD 21207

DESCRIPTION:

  • Purchase price is $99,000 and construction costs are $40,000.
  • Cash to close is $32,000
  • Holding $40,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; prior client

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $120,000 1st Mortgage
Value of Subject Property: $190,000
Loan to Value: 63%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 714