PROPERTY: 

Chatswoth Dr, Accokeek,  MD 20607

 

DESCRIPTION:

  • Purchase price is $200,000 and construction costs are $25,000.
  • Cash to close is $93,000
  • Holding $25,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; bringing cash to the table and has cash in the bank, low ltv

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $150,000 1st Mortgage
Value of Subject Property: $293,000
Loan to Value: 51%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 569