800.883.8290PROPERTY:
Soward Dr, Silver Spring, MD 20902
DESCRIPTION:
- Purchase price is $289,900 and construction costs are $60,000.
- Cash to close is $91,000
- Holding $60,000 of the funds which will be reimbursed upon completion of project
- Prior client, excellent credit.
PROPOSED TERMS:
| Loan Type: | Purchase Construction |
| Loan Amount: | $290,000 1st Mortgage |
| Value of Subject Property: | 410,000 |
| Loan to Value: | 71% |
| Term requested: | 9 Month Balloon |
| Exit Strategy: | Resell property |
| Credit Score | 796 |
