PROPERTY:

 Daimler Dr,  Capitol Heights, MD 20743

DESCRIPTION:

  • Purchase price is $86,000 with no construction cost
  • Seller is holding a $22K carry back 2nd
  • Cash to close is $13K
  • Borrower is holding the property as a rental

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $60,000 1st Mortgage
Value of Subject Property: $120,000
Loan to Value: 50%
Term requested: 12 Month Balloon
Exit Strategy: Refinance and hold as rental
Credit Score 660