PROPERTY:

N Columbus St. Arlington, VA  22207

DESCRIPTION:

  • Purchase price is $429,000 and construction costs are $75,000.
  • Cash to close is $80,000
  • Holding $75,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $460,000 1st Mortgage
Value of Subject Property: $700,000
Loan to Value: 66%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score  684