PROPERTY: 

Hermosa Ave, Baltimore,  MD  21214

 

DESCRIPTION:

  • Purchase price is $71,000 and construction costs are $40,000.
  • Cash to close is $0
  • Holding $40,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; Chris and Jason are guarantors

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $125,000 1st Mortgage
Value of Subject Property: 190,000
Loan to Value: 66%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 720