PROPERTY:
Edgewater Terr, Fort Washington, MD 20744
DESCRIPTION:
- Purchase price is $274,500 and construction costs are $20,000
- Cash to close is $57,000
- Holding $20,000 of the funds which will be reimbursed upon completion of project.
- Prior client.
PROPOSED TERMS:
Loan Type: | Purchase construction |
Loan Amount: | $260,000 1st Mortgage |
Value of Subject Property: | $372,000 |
Loan to Value: | 70% |
Term requested: | 9 Month Balloon |
Exit Strategy: | Resell property |
Credit Score | 549 / 647 |