PROPERTY: 

S Croskey, Philadelphia, PA  19145

DESCRIPTION:

  • Purchase price is $55,000 and construction costs are $35,000.
  • Cash to close is $34,000.
  • Holding $35,000 of the funds which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $65,000 1st Mortgage
Value of Subject Property: $100,000
Loan to Value: 65%
Term requested: 12  Month Balloon
Exit Strategy: Resale
Credit Score  741