PROPERTY:

Scott St, Baltimore, MD 21230

DESCRIPTION:

  • Purchase price is $80,000 and construction costs are $20,000.
  • Cash to close is $58,000
  • Holding $20,000 of the funds which will be reimbursed upon completion of project
  • Prior client

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $50,000 1st Mortgage
Value of Subject Property: $125,000
Loan to Value: 40%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 660