800.883.8290PROPERTY:
Prince of Wales Ct, Bowie, MD 20716
DESCRIPTION:
- Purchase price is 113,000 and construction costs are $25,000.
- Borrower’s cash to close is $26,000
- Holding $25,000 of the funds which will be reimbursed upon completion of project
PROPOSED TERMS:
| Loan Type: | Purchase construction |
| Loan Amount: | $120,000 1st Mortgage |
| Value of Subject Property: | $180,000 |
| Loan to Value: | 66% |
| Term requested: | 9 Month Balloon |
| Exit Strategy: | Resell property |
| Credit Score | 577 / 759 |
