PROPERTY:

Kentwood Ln, Woodbridge, VA  22193

 

DESCRIPTION:

  • Purchase price is $190,000 and construction costs are $25,000.
  • Cash to close is $69,000
  • Holding $25,000 of the funds which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type:  Purchase Construction
Loan Amount:  $160,000 1st Mortgage
Value of Subject Property:  $250,000
Loan to Value:  64%
Term requested:  9 Month Balloon
Exit Strategy:  Resell property
Credit Score  624 / 681