PROPERTY:

Oregon Ave,  Hyattsville,  MD 20785

DESCRIPTION:

  • Purchase price is $105,000 and construction costs are $30,000.
  • Cash to close is $17,000
  • Holding $30,000 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: $130,000 1st Mortgage
Value of Subject Property: $230,000
Loan to Value: 57%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score  716 / 671