PROPERTY:

7th St, NW, Washington, DC 20011

DESCRIPTION:

  • Purchase price is $305,000 and construction costs are $75,000.
  • Cash to close is $47,500
  • Holding $75,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing, Excellent credit

PROPOSED TERMS:

Loan Type: Purchase
Loan Amount: $360,000 1st Mortgage
Value of Subject Property: $600,000
Loan to Value: 60%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 808