PROPERTY:

Carrington Ave, Capitol Heights,   MD 20743

DESCRIPTION:

  • Purchase price is $81,000 and construction costs are $15,000.
  • Cash to close is $13,000
  • Holding $15,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; prior client.

 

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $95,000 1st Mortgage
Value of Subject Property: $180,000
Loan to Value: 53%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 816