PROPERTY:

Hobblebush Ct, Glenarden, MD 20706

DESCRIPTION:

  • Purchase price is $147,644 and construction costs are $15,000.
  • Cash to close is $30,000
  • Holding $15,000 of the funds which will be reimbursed upon completion of project
  • Prior client with portfolio of rental and rehabbed homes.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $150,000 1st Mortgage
Value of Subject Property: $220,000
Loan to Value: 69%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 668