PROPERTY:

Homestake Dr, Bowie,   MD 20721

DESCRIPTION:

  • Purchase price is $181,000 and construction costs are $7,500.
  • Cash to close is $30,000
  • Holding $7,500 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; prior client.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $175,000 1st Mortgage
Value of Subject Property: $315,000
Loan to Value: 55%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 816