800.883.8290PROPERTY:
Rusty Anchor Rd, Ocean City, MD 21842
DESCRIPTION:
- Purchase price is $170,000 and construction costs are $30,000.
- Cash to close is $69,000
- Holding $30,000 of the funds which will be reimbursed upon completion of project
- $115,000 in the bank.
PROPOSED TERMS:
| Loan Type: | Purchase Construction |
| Loan Amount: | $140,000 1st Mortgage |
| Value of Subject Property: | $210,000 |
| Loan to Value: | 67% |
| Term requested: | 9 Month Balloon |
| Exit Strategy: | Resell property |
| Credit Score | 682 |
