PROPERTY:

Homestake Dr, Bowie, MD 20720

DESCRIPTION:

  • Purchase price is $180,000 and construction costs are $7,500.
  • Cash to close is $19,000
  • Holding $7,500 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $175,000 1st Mortgage
Value of Subject Property: $250,000
Loan to Value: 70%
Term requested: 9 Month Balloon
Exit Strategy: Resell
Credit Score 816