PROPERTY: 

Mohican Dr,  Oxon Hill,  MD   20745

DESCRIPTION:

  • Purchase price is $123,000  and construction costs are $65,000
  • Cash to close is $36,000.
  • Holding $65,000 of the funds which will be reimbursed upon completion of the project.
  • Borrower has wholesaling experience and is a prior client.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $165,000 1st Mortgage
Value of Subject Property: $250,000
Loan to Value: 66%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score  711 / 730