PROPERTY:

Floral Dr, Gaithersburg, MD  20877

DESCRIPTION:

  • Purchase price is $200,000 and construction costs are $50,000.
  • Cash to close is $68,000
  • Holding $50,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing, prior client.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $200,000 1st Mortgage
Value of Subject Property: $300,000
Loan to Value: 67%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 741