PROPERTY:

Springwoods Dr, Woodbridge, VA  22192

DESCRIPTION:

  • Purchase price is $158,000 and construction costs are $20,000.
  • Cash to close is $53,000.
  • Holding $20,000 of the funds which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $140,000 1st Mortgage
Value of Subject Property: $220,000
Loan to Value: 64%
Term requested:  Month Balloon
Exit Strategy: Resell property
Credit Score  630