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