800.883.8290PROPERTY:
Village Rd, Baltimore, MD 21208
DESCRIPTION:
- Purchase price is $75,000 and construction costs are $25,000.
- Borrowers have a silent partner who is recording a 2nd for $15,000.
- Cash to close is $25,000.
- Holding $25,000 of the funds which will be reimbursed upon completion of project
PROPOSED TERMS:
| Loan Type: | Purchase Construction |
| Loan Amount: | $70,000 1st Mortgage |
| Value of Subject Property: | $135,000 |
| Loan to Value: | 52% |
| Term requested: | 12 Month Balloon |
| Exit Strategy: | Resell property |
| Credit Score | 550 / 498 |
