PROPERTY:

Marathon Dr, Upper Marlboro,   MD 20772

DESCRIPTION:

  • Purchase price is $203,000 and construction costs are $8,500.
  • Cash to close is $51,000
  • Holding $8,500 of the funds which will be reimbursed upon completion of project
  • Experience in rehabbing; prior client

 

PROPOSED TERMS:

Loan Type: Purchase Construction
Loan Amount: $175,000 1st Mortgage
Value of Subject Property: $280,000
Loan to Value: 63%
Term requested: 9 Month Balloon
Exit Strategy: Resell property
Credit Score 816