PROPERTY:
Sheraton Rd, Randallstown, MD 21133
DESCRIPTION:
- Purchase price is $119,000 and construction costs are $50,000.
- Cash to close is $32,500.
- Holding $50,000 of the funds which will be reimbursed upon completion of project
PROPOSED TERMS:
Loan Type: | Purchase construction |
Loan Amount: | $155,000 1st Mortgage |
Value of Subject Property: | $290,000 |
Loan to Value: | 55% |
Term requested: | 12 Month Balloon |
Exit Strategy: | Refinance property |
Credit Score | 622 |