PROPERTY:

Wilde Ave, Drexel Hill,   PA  19026

DESCRIPTION:

  • Purchase price is $145,000 and construction costs are $60,000.
  • Cash to close is $65,000.
  • Holding $60,000 of the funds which will be reimbursed upon completion of project
  • New borrower with a solid project.

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  691