PROPERTY: 

Mason St, District Heights,   MD  20747

DESCRIPTION:

  • Purchase price is $105,000 and construction costs are $20,000.
  • Cash to close is $23,000.
  • Holding $20,000 of the funds which will be reimbursed upon completion of project
  • Prior client.  Very experienced.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $115,000 1st Mortgage
Value of Subject Property: $180,000
Loan to Value: 64%
Term requested: 12  Month Balloon
Exit Strategy: Resale
Credit Score  723 / 668