PROPERTY: 

Dawn Ln,  Temple Hills,  MD   20748

 

DESCRIPTION:

  • Purchase price is $63,000 and construction costs are $25,000.
  • Cash to close is $14,000
  • Holding $25,000 of the funds which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $85,000 1st Mortgage
Value of Subject Property: $130,000
Loan to Value: 66%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score  716/748/655