PROPERTY:

Bates St, NW, Washington, DC  20001

DESCRIPTION:

  • Purchase price is $307,900 and construction costs are $80,000.
  • Cash to close is $49,000
  • Holding $80,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $370,000 1st Mortgage
Value of Subject Property: $575,000
Loan to Value: 64%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score  570/ 796 / 590