PROPERTY: 

Buttonwood Dr,  Pilesgrove, NJ 08098

 

DESCRIPTION:

  • Purchase price is $150,000  and construction costs are $16,000
  • Cash to close is $26,000.
  • Holding $16,000 of the funds which will be reimbursed upon completion of the project.
  • Prior client.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $156,000 1st Mortgage
Value of Subject Property: $255,000
Loan to Value: 62%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score  674