PROPERTY:

Rosedale Heights Ave,  Baltimore,  MD 21237

DESCRIPTION:

  • Purchase price is $92,000 and construction costs are $48,000.
  • Cash to close is $10,000, seller paying $2,800.
  • Holding $48,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing, prior client.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $140,000 1st Mortgage
Value of Subject Property: $225,000
Loan to Value: 63%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 650