800.883.8290PROPERTY:
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 |
