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 |