PROPERTY:

Middle Rd, Hammonton, NJ  08037

DESCRIPTION:

  • Purchase price is $86,00 and construction costs are $35,000.
  • Cash to close is $23,000.
  • Holding $35,000 which will be reimbursed upon completion of the project.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $110,000 1st Mortgage
Value of Subject Property: $200,000
Loan to Value: 55%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 623 / 734