PROPERTY:

Meadowridge Ct,  Landover,  MD 20785

DESCRIPTION:

  • Purchase price is $140,000 and construction costs are $45,000.
  • Cash to close is $17,000
  • Holding $45,000 of the funds which will be reimbursed upon completion of project
  • Experience in the renovation process.  Past client.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $185,000 1st Mortgage
Value of Subject Property: $321,000
Loan to Value: 58%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score  716 / 671