PROPERTY:

Latona Rd,  Baltimore,  MD 21214

DESCRIPTION:

  • Purchase price is $95,000 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
  • 2-unit property
  • Experienced borrower.  Jason and Chris are co-guarantors.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $150,000 1st Mortgage
Value of Subject Property: $190,000
Loan to Value: 64%
Term requested: 12 Month Balloon
Exit Strategy: Rental property
Credit Score 720

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