PROPERTY:

Lorring Dr,  District Heights,  MD 20747

DESCRIPTION:

  • Purchase price is $125,000 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
  • Experience in rehabbing, prior client.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $140,000 1st Mortgage
Value of Subject Property: $220,000
Loan to Value: 64%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 723/668