PROPERTY:

N Rock Glen, Baltimore, MD 21229

 

DESCRIPTION:

  • Purchase price is $120,000 and construction costs are $38,000.
  • Cash to close is $38,000
  • Holding $38,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $135,000 1st Mortgage
Value of Subject Property: $210,000
Loan to Value: 64%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 467 / 658