PROPERTY:

Larchmont Ave, Capitol Heights, MD 20743

DESCRIPTION:

  • Purchase price is $60,000 and construction costs are $40,000.
  • Cash to close is $30,000
  • Holding $40,000 of the funds which will be reimbursed upon completion of project
  • Just finished rehabbing a rental in Alexandria, VA

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $80,000 1st Mortgage
Value of Subject Property: $140,000
Loan to Value: 57%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 534 / 676