PROPERTY:

Dauntly St, Upper Marlboro,  MD 20774

DESCRIPTION:

  • Purchase price is $120,000 and construction costs are $80,000.
  • Cash to close is $22,000
  • Holding $80,000 of the funds which will be reimbursed upon completion of project
  • Experienced borrower.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $195,000 1st Mortgage
Value of Subject Property: $340,000
Loan to Value: 58%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 746