PROPERTY:

Liberty Parkway,  Baltimore,  MD 21222

DESCRIPTION:

  • Purchase price is $61,000 and construction costs are $20,000.
  • Cash to close is $21,000
  • Holding $20,000 of the funds which will be reimbursed upon completion of project

PROPOSED TERMS:

Loan Type: Purchase construction
Loan Amount: $70,000 1st Mortgage
Value of Subject Property: $110,000
Loan to Value: 64%
Term requested: 12 Month Balloon
Exit Strategy: Refinance and rent
Credit Score 579/796/ 682