PROPERTY:

S Swarthmore Ave, Ridley Park, PA  19078

DESCRIPTION:

  • Purchase price is $64,000 and construction costs are $50,000.
  • Cash to close is $43,000.
  • Holding $50,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $80,000 1st Mortgage
Value of Subject Property: $160,000
Loan to Value: 50%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 703 / 763