PROPERTY:

Elders Hollow Dr, Bowie,   MD 20721

DESCRIPTION:

  • Purchase price is $153,500 and construction costs are $14,000.
  • Cash to close is $21,000
  • Holding $14,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; prior client

 

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $160,000 1st Mortgage
Value of Subject Property: $220,000
Loan to Value: 73%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 816