800.883.8290PROPERTY:
Stevenson Rd, Baltimore MD 21230
DESCRIPTION:
- Second mortgage of a property purchased in June 2015 for $138,000 of which we have a first mortgage construction loan of $120,000.
- Holding $80,000 of the funds to be reimbursed upon completion of project.
- Cash to back at closing $21,000
- Experience in rehabbing and home-building, prior client
PROPOSED TERMS:
| Loan Type: | Refi Construction |
| Loan Amount: | $110,000 2nd Mortgage |
| Value of Subject Property: | $385,000 |
| Combined Loan to Value: | 60% |
| Term requested: | 9 Month Balloon |
| Exit Strategy: | Resell property |
| Credit Score | 776 |
