PROPERTY:

Glencoe Rd, Baltimore,  MD  21234

DESCRIPTION:

  • Purchase price is $110,000 and construction costs are $30,000.
  • Cash to close is $22,000.
  • Holding $30,000 of the funds which will be reimbursed upon completion of project
  • New borrower with a solid project.

PROPOSED TERMS:

Loan Type:  Purchase construction
Loan Amount:  $130,000 1st Mortgage
Value of Subject Property:  $200,000
Loan to Value:  65%
Term requested:  12 Month Balloon
Exit Strategy:  Resell property
Credit Score  705