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 |