PROPERTY:

Newkirk Ave,  District Heights, MD  20747

DESCRIPTION:

  • Purchase price is $103,750 and construction costs are $15,000.
  • Cash to close is $13,700
  • 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: $115,000 1st Mortgage
Value of Subject Property: $200,000
Loan to Value: 58%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 723 / 730