PROPERTY:

Highgate Dr, Baltimore,  MD 21215

DESCRIPTION:

  • Purchase price is $56,000 and construction costs are $20,000
  • Cash to close is $28,000
  • Holding $22,000 of the funds which will be reimbursed upon completion of project.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $60,000 1st Mortgage
Value of Subject Property: $140,000
Loan to Value: 43%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 693