PROPERTY: 

Lake View Dr, Lusby,  MD   20657

 

DESCRIPTION:

  • Purchase price is $80,000 and construction costs are $50,000.
  • Cash to close is $51,000
  • Holding $50,000 of the funds which will be reimbursed upon completion of project
  • Borrower has over $70,000 available.

 

 

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $90,000 1st Mortgage
Value of Subject Property: $145,000
Loan to Value: 62%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score  675 / 752