PROPERTY: 

Marshy Creek Rd, Grasonville, MD    21638

 

DESCRIPTION:

  • Purchase price is $63,000 and construction costs are $20,000.
  • Cash to close is $14,000
  • Holding $20,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing and home-building.

 

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $80,000 1st Mortgage
Value of Subject Property: $125,000
Loan to Value: 64%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score  584/ 742