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 |