PROPERTY:

Mews Ct, Laurel,   MD 20707

DESCRIPTION:

  • Purchase price is $159,000 and construction costs are $10,000.
  • Cash to close is $33,500
  • Holding $10,000 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: $225,000
Loan to Value: 67%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 816