PROPERTY: 

subj:  Midas Pl, Philadelphia, PA  19131

cross collateral:  Barker Ave, Lansdowne, PA  19050

 

DESCRIPTION:

  • Purchase price is $74,000 and construction costs are $25,000.
  • Cash to close is $20,000.
  • Holding $25,000 of the funds which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $95,000 1st Mortgage
Value of Subject Property:

Value of X-Collateral:

 $160,000

$110,000
Loan to Value: 36%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score  610