PROPERTY:

Newglen Ave, District Heights,   MD 20747

DESCRIPTION:

  • Purchase price is $105,555 and construction costs are $15,000.
  • Cash to close is $23,000
  • Holding $15,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing, prior client.

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $110,000 1st Mortgage
Value of Subject Property: $190,000
Loan to Value: 58%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 723/668