PROPERTY: 

Poplar Ave, Baltimore,  MD   21207

 

DESCRIPTION:

  • Purchase price is $93,000 and construction costs are $67,000.
  • Cash to close is $14,000
  • Holding $67,000 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: $250,000
Loan to Value: 64%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score  642