PROPERTY:

Middle Rd, Baltimore, MD  21220

DESCRIPTION:

  • Purchase price is $145,000 and construction costs are $75,000.
  • Cash to close is $74,000
  • Holding $75,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing, prior client.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $160,000 1st Mortgage
Value of Subject Property: $325,000
Loan to Value: 50%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 540