PROPERTY:

Matthews Rd,  Bryans Road,  MD 20616

DESCRIPTION:

  • Purchase price is $70,000 and construction costs are $30,000.
  • Cash to close is $30,500.
  • Holding $30,000 of the funds which will be reimbursed upon completion of project
  • Experienced borrower.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $80,000 1st Mortgage
Value of Subject Property: $185,000
Loan to Value: 45%
Term requested: 12 Month Balloon
Exit Strategy: Rental property
Credit Score 620