PROPERTY:

Old Westminster Pike, Westminster, MD 21157

DESCRIPTION:

  • Purchase price is $143,000 and construction costs are $50,000.
  • Cash to close is $63,000
  • Holding $50,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $120,000 1st Mortgage
Value of Subject Property: $225,000
Loan to Value: 53%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score  672