PROPERTY: 

Independence Ave, SE,  Washington DC   20003

DESCRIPTION:

  • Purchase price is $365,000.
  • Cash to close is $75,000
  • Already has a buyer for the property at $520,000

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $315,000 1st Mortgage
Value of Subject Property: $520,000
Loan to Value: 61%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
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