PROPERTY:

Jaywick Ct, Ft Washington, DC  20744

DESCRIPTION:

  • Purchase price is $172,000 and construction costs are $40,000.
  • Cash to close is $37,000
  • Holding $40,000 of the funds which will be reimbursed upon completion of project

 

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $195,000 1st Mortgage
Value of Subject Property: $300,000
Loan to Value: 65%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score  652