PROPERTY: 

28th St, SE  Washington, DC  20020

DESCRIPTION:

  • Purchase price is $180,000 and construction costs are $70,000.
  • Cash to close is $72,000.
  • Holding $70,000 of the funds which will be reimbursed upon completion of project
  • Prior customer.

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: Resale
Credit Score  671