PROPERTY: 

Walnut St, Blue Bell, PA  19422

 

DESCRIPTION:

  • Purchase price is $78,000 and construction costs are $60,000.
  • Cash to close is $5,000 with 3 months payments prepaid at closing
  • Holding $60,000 of the funds which will be reimbursed upon completion of project
  • Will be cross collateralizing 3 other rental properties the borrower owns F & C.

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $160,000 1st Mortgage
Value of Subject Property: $300,000
Loan to Value: 54%
Term requested: 12 Month Balloon
Exit Strategy: Resell property or Bank refi
Credit Score  610-766