800.883.8290PROPERTY:
Lycoming Ave, Elkins Park, PA 19027
DESCRIPTION:
- Purchase price is $175,600 and construction costs are $50,000.
- Cash to close is $85,000
- Holding $50,000 of the funds which will be reimbursed upon completion of project
- Borrower has $350,000 in the bank.
PROPOSED TERMS:
| Loan Type: | Purchase Construction |
| Loan Amount: | $160,000 1st Mortgage |
| Value of Subject Property: | $250,000 |
| Loan to Value: | 64% |
| Term requested: | 9 Month Balloon |
| Exit Strategy: | Resell property |
| Credit Score | 692 / 800 |
