PROPERTY:

Hil Mar Dr, District Heights, MD 20747

 

DESCRIPTION:

  • Purchase price is $128,000 and construction costs are $15,000.
  • Cash to close is $22,000
  • Holding $15,000 of the funds which will be reimbursed upon completion of project
  • Assignment of an LLC to be paid separately

 

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $120,000 1st Mortgage
Value of Subject Property: $190,000
Loan to Value: 63%
Term requested: 12 Month Balloon
Exit Strategy: Resell property
Credit Score 747