PROPERTY:

Forrest Ave, Baltimore, MD 21234

DESCRIPTION:

  • Purchase price is $110,000 and construction costs are $30,000.
  • Cash to close is $20,000
  • Holding $30,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing, we have done several loans for this borrower.

PROPOSED TERMS:

Loan Type: Purchase
Loan Amount: $130,000 1st Mortgage
Value of Subject Property: $200,000
Loan to Value: 65%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 650