PROPERTY:

Atoka Rd, Marshall, VA 20115

DESCRIPTION:

  • Purchase price is $120,000 and construction costs are $70,000.
  • Cash to close is $12,000+
  • Holding all $70,000 of the rehab funds which will be reimbursed in draws upon completion of work
  • Very experienced and HMB has done many successful projects with this Borrower

PROPOSED TERMS:

Loan Type: Purchase
Loan Amount: $190,000 1st Mortgage
Value of Subject Property: $300,000
Loan to Value: 63%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 684