PROPERTY: 

Linda Lane, Temple Hills,  MD   20748

 

DESCRIPTION:

  • Purchase price is $116,000 and construction costs are $60,000.
  • Cash to close is $30,000
  • Holding $60,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing – prior client.

 

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $150,000 1st Mortgage
Value of Subject Property: $265,000
Loan to Value: 57%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score  697