PROPERTY:

Tulip Ave,  District Heights,  MD 20747

DESCRIPTION:

  • Purchase price is $125,700 and construction costs are $15,000.
  • Cash to close is $27,000
  • Holding $15,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; prior client w/ portfolio of rehabbed homes.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $125,000 1st Mortgage
Value of Subject Property: $190,000
Loan to Value: 66%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 723/683