PROPERTY:

Ridgeville Blvd, Mount Airy, MD 21771

DESCRIPTION:

  • Purchase price is $150,000 (+$5K wholesale fee paid outside of closing) and construction costs are $55,000.
  • Cash to close is $20,000+
  • Holding $55,000 of the funds which will be reimbursed upon completion of project
  • Good repeat client with rehab experience.

 

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $200,000 1st Mortgage
Value of Subject Property: $310,000
Loan to Value: 65%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 700