800.883.8290PROPERTY:
Worrell Ave, Lanham, MD 20706
DESCRIPTION:
- Purchase price is $118,000 and construction costs are $40,000.
- Cash to close is $37,000
- Holding $40,000 of the funds which will be reimbursed upon completion of project
PROPOSED TERMS:
| Loan Type: | Purchase Construction |
| Loan Amount: | $135,000 1st Mortgage |
| Value of Subject Property: | $210,000 |
| Loan to Value: | 64% |
| Term requested: | 9 Month Balloon |
| Exit Strategy: | Resell property |
| Credit Score | 650 |
