PROPERTY:

Sonia Trail,  Ellicott City,  MD 21043

DESCRIPTION:

  • Purchase price is $190,00 and construction costs are $10,000.
  • Cash to close is $25,000.
  • Holding $10,000 to be reimbursed at the completion of the project.
  • Borrower has rehab experience.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $195,000 1st Mortgage
Value of Subject Property: $315,000
Loan to Value: 62%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score