PROPERTY:

Hornbeam Ct, Gleanarden, MD 20706

DESCRIPTION:

  • Purchase price is $142,100 and construction costs are $8,000.
  • Cash to close is $25,000
  • Holding $8,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; excellent credit.

PROPOSED TERMS:

Loan Type: Purchase
Loan Amount: $140,000 1st Mortgage
Value of Subject Property: $220,000
Loan to Value: 64%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 816