PROPERTY:

Locustvale Rd, Baltimore, MD 21207

DESCRIPTION:

  • Purchase price is $200,000 and construction costs are $45,000.
  • Cash to close is $50,000
  • Holding $45,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; referred by a prior client

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $210,000 1st Mortgage
Value of Subject Property: $325,000
Loan to Value: 65%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 776 / 761