PROPERTY: 

Greeley Rd Hyattsville, MD  20785

DESCRIPTION:

  • Purchase price is $89,000 and construction costs are $20,000.
  • Cash to close is $21,000.
  • Holding $20,000 of the funds which will be reimbursed upon completion of project
  • Prior client.  Very experienced.

 

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $100,000 1st Mortgage
Value of Subject Property: $175,000
Loan to Value: 58%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score  723 / 668