PROPERTY: 

Trinidad Ave, NE Washington, DC  20002

DESCRIPTION:

  • Purchase price is $375,000 and construction costs are $80,000.
  • Cash to close is $110,000.
  • Holding $80,000 of the funds which will be reimbursed upon completion of project
  • Prior client.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $375,000 1st Mortgage
Value of Subject Property: $650,000
Loan to Value: 63%
Term requested: 12  Month Balloon
Exit Strategy: Resale
Credit Score  679