PROPERTY:

Marne Pl, NE  Washington, DC

DESCRIPTION:

  • Purchase price is $215,000 and construction costs are $60,000.
  • Cash to close is $58,000
  • Holding $60,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing, prior client.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $235,000 1st Mortgage
Value of Subject Property: $360,000
Loan to Value: 66%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 692