PROPERTY:

13th Pl NE, Washington, DC 20018

DESCRIPTION:

  • Purchase price is $250,000 and construction costs are $25,000
  • Cash to close is $35,000
  • Holding $25,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $260,000 1st Mortgage
Value of Subject Property: $385,000
Loan to Value: 68%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score  739