PROPERTY:

Walton Ave,  Philadelphia,  PA  19143

DESCRIPTION:

  • We are doing a $75,000 bridge loan against this property which the borrower paid $182,000 cash for in January 2016.
  • Property is owned free and clear and the proceeds will be used towards completing this project and for other real estate projects
  • $33,000 cash back at closing.
  • We are holding $30,000 of the funds which will be reimbursed upon completion of project.

PROPOSED TERMS:

Loan Type: Refinance Construction
Loan Amount: $75,000 1st Mortgage
Value of Subject Property: $125,000
Loan to Value: 60%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score