PROPERTY: 

Old Harford Rd, Baltimore, MD  21234

 

DESCRIPTION:

  • Purchase price is $98,000 and construction costs are $45,000.
  • Cash to close is $15,500
  • Holding $45,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; prior client with portfolio of rehab & rental projects

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $143,000 1st Mortgage
Value of Subject Property: $230,000
Loan to Value: 67%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 660