PROPERTY:

Iago Ave,  Capitol Heights, MD  20743

DESCRIPTION:

  • Purchase price is $89,000 and construction costs are $15,000.
  • Cash to close is $13,000
  • Holding $15,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing, prior client.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $100,000 1st Mortgage
Value of Subject Property: $201,000
Loan to Value: 50%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 723 / 730