PROPERTY:

Nicodemus Rd,  Westminster,  MD 21157

DESCRIPTION:

  • Purchase price is $292,000 and construction costs are $45,000.
  • Cash to close is $63,000
  • Holding $45,000 of the funds which will be reimbursed upon completion of project
  • Has done a minor rehab in Beltsville in the past.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $300,000 1st Mortgage
Value of Subject Property: $525,000
Loan to Value: 57%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 678