PROPERTY:

Compton Ave,  Laurel,  MD 20707

DESCRIPTION:

  • Purchase price is $137,00 and construction costs are $75,000.
  • Cash to close is $39,000
  • Holding $75,000 of the funds which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $190,000 1st Mortgage
Value of Subject Property: $300,000
Loan to Value: 64%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 650 / 764