PROPERTY: 

Leroy Gorham Dr, Capitol Heights, MD  20743

DESCRIPTION:

  • Purchase price is $75,800 and construction costs are $20,000.
  • Cash to close is $17,000.
  • Holding $20,000 of the funds which will be reimbursed upon completion of project
  • Prior client.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $90,000 1st Mortgage
Value of Subject Property: $200,000
Loan to Value: 45%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score  723 / 668