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 |