PROPERTY:
Potomac Ave, Baltimore, MD 21237
DESCRIPTION:
- Purchase price is $80,000 and construction costs are $60,000.
- Cash to close is $28,000
- Holding $60,000 of the funds which will be reimbursed upon completion of project
PROPOSED TERMS:
Loan Type: | Purchase construction |
Loan Amount: | $125,000 1st Mortgage |
Value of Subject Property: | $220,000 |
Loan to Value: | 57% |
Term requested: | 12 Month Balloon |
Exit Strategy: | Resell property |
Credit Score | 650 |