PROPERTY:

Nicholas Rd, Waldorf, MD 20601

DESCRIPTION:

  • Purchase price is $145,000 and construction costs are $50,000.
  • Cash to close is $50,000
  • Holding $40,000 of the funds which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $160,000 1st Mortgage
Value of Subject Property: $260,000
Loan to Value: 62%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 704/534