PROPERTY:

Pecan Dr,  Fredericksburg, VA  22407

DESCRIPTION:

  • Purchase price is $106,000 and construction costs are $5,000.
  • Cash to close is $41,000
  • Holding $5,000 of the funds which will be reimbursed upon completion of project
  • Has over $150,000 in the bank.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $80,000 1st Mortgage
Value of Subject Property: $120,000
Loan to Value: 67%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 632