PROPERTY: 

Belview Ave, Hagerstown,  MD   21740

 

DESCRIPTION:

  • Purchase price is $50,000 and construction costs are $35,000.
  • Cash to close is $21,000
  • Holding $35,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing.

 

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $75,000 1st Mortgage
Value of Subject Property: $115,000
Loan to Value: 65%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score  708