PROPERTY:
Franklin Ave, Lanham, MD 20706
DESCRIPTION:
- Purchase price is $198,850 and construction costs are $18,000.
- Cash to close is $92,000.
- Holding $18,000 of the funds which will be reimbursed upon completion of project
PROPOSED TERMS:
Loan Type: | Purchase Construction |
Loan Amount: | $150,000 1st Mortgage |
Value of Subject Property: | $335,000 |
Loan to Value: | 45% |
Term requested: | 12 Month Balloon |
Exit Strategy: | Resell property |
Credit Score | 619 |