PROPERTY: 

Frederick Rd,  Baltimore MD   21228

 

DESCRIPTION:

  • Purchase price is $173,000 and construction costs are $10,000.
  • Cash to close is $12,500
  • Holding $10,000 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing and home-building, prior client

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $185,000 1st Mortgage
Value of Subject Property: $350,000
Loan to Value: 53%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score  670 / 677