PROPERTY:

Sefton Ave,  Baltimore,  MD 21214

DESCRIPTION:

  • Purchase price is $71,000 and construction costs are $60,000.
  • Cash to close is $22,500.
  • Holding $60,000 of the funds which will be reimbursed upon completion of project
  • Borrower is experienced in rehabbing and flipping homes in the Baltimore City and surrounding areas.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $120,000 1st Mortgage
Value of Subject Property: $185,000
Loan to Value: 65%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 720