PROPERTY:

Sarah Landing Dr, Chetelham,  MD  20623

DESCRIPTION:

  • Purchase price is $305,000 and construction costs are $5,000.
  • Cash to close is $29,500
  • Holding $5,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing, prior client.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $300,000 1st Mortgage
Value of Subject Property: $450,000
Loan to Value: 67%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 693